Required for the principal-agent relationship

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Reference no: EM132127074

1. Which of the following is not required for the principal-agent relationship?

Agent's behaviors/act must be for the benefit of the principal

An informal agreement between the principal who has capacity and the agent

Principal must have the right to control the agent by having the power to supervise the manner of the agent's performance

Writing or consideration

2. In the field of agency, what forms a principal-agent relationship?

All of the above

Principal has control over agency’s actions

An informal agreement exists between the agent and principal for the action taken

Principal benefits from agent’s conduct

Reference no: EM132127074

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