Which of the following statements is true regarding a principal?
A) A minor or an incompetent person can be a principal.
B) A principal is a person who by agreement with the agent acts on behalf of and subject to the control of the agent.
C) A principal's obligation is to act only in the interest of the agent.
D) A principal must have capacity to contract.
Correct Answer:
Verified
Q3: In the case of an agency relationship,
Q4: Where the principal is fully disclosed, the
Q5: The relationship between a trustee and a
Q6: All fiduciary relationships are agency relationships.
Q7: An agent is a person who by
Q9: A limited liability company exists as a
Q10: When an agent is interacting with a
Q11: An agent must have capacity to contract.
Q12: The certificate of limited partnership filed with
Q13: In the case of an agency relationship,
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