Which of the following is a false statement regarding the agency relationship?
A)It is a consensual relationship.
B)It may be formed by a formal written contract.
C)It may be formed by an informal oral agreement.
D)It can be created only for a lawful purpose.
E)As a universal rule,a person must be trained in the area of specialty involved in the agency relationship in order to qualify as an agent.

Question

Quizplus · Accepted Answer

Almost anyone can act as an agent,and a person can serve as an agent regardless of age or competency.

Which of the Following Is a False Statement Regarding the Agency