The agency relationship is a key part to most business operations.

Question

Quizplus · Accepted Answer

The agency relationship refers to a legal arrangement where one party (the principal) gives authority to another party (the agent) to act on their behalf in a specific capacity. This type of relationship is common in business settings, where companies often hire agents or brokers to represent their interests in negotiations or transactions. Therefore, the statement is true.

The Agency Relationship Is a Key Part to Most Business