Principle of agency - SS2 Commerce Past Questions and Answers - page 1
1
What is the primary duty of an agent towards the principal?
A
Compensation
B
Diligence
C
Control
2
Which right of the agent allows them to expect reimbursement for necessary expenses?
A
Indemnification
B
Control
C
Cooperation
3
What is the principal's right to direct the actions of the agent called?
A
Control
B
Diligence
C
Loyalty
4
Which duty of the agent requires them to act in the best interests of the principal?
A
Control
B
Loyalty
C
Indemnification
5
Which right of the principal ensures that the agent acts honestly and in good faith?
A
Control
B
Compensatiom
C
Good Faith
6
Name one right of the agent in the principal-agent relationship.
Indemnification