The duty of an agent of necessary to a principle is based on?

Assessment: WAEC SSCE - Commerce - 2002 (Objective) Subject: Commerce

Question 1 Report

The duty of an agent of necessary to a principle is based on?
Answer Details
The duty of an agent to a principal is based on trust. An agent is appointed by a principal to act on their behalf and in their best interest. This creates a fiduciary relationship between the agent and the principal. The agent is expected to act honestly, fairly, and in good faith in carrying out the responsibilities assigned by the principal. The agent is also required to keep the principal's confidential information private and not use it for personal gain. All these requirements are based on the trust placed in the agent by the principal, and failure to meet these expectations can result in legal consequences.
Read lesson note on Legal Aspects Of Business (JAMB)
View Answer

Related Questions

1

Which of the following has no limit to its membership?
2

The refund of a duty which had been paid on importation that are later re-exported is known as?
3

The distribution and exchange of goods and services for the satisfaction of wants in the concern of?
4

Which of the following does not lead to the dissolution of a partnership?
5

An offer by one company to buy up all or greater part of another company's share is known as?
6

Transforming raw materials into finished products is an example of?
7

Transforming raw materials into finished products is an example of?
8

Which of the following is concerned with actual production of goods and services?

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning