In Jasons agency contract,the insurer authorizes him to sell insurance policies. What type of authority is this?

Question

Quizplus · Accepted Answer

Actual authority is the authority that an agent has to act on behalf of the principal. Express authority is the authority that is given to an agent in writing. In this case, Jason's agency contract is a written agreement that gives him the authority to sell insurance policies. Therefore, Jason has both actual and express authority to sell insurance policies.

In Jasons Agency Contract,the Insurer Authorizes Him to Sell Insurance