Contractual Duties of a Principal to an Agent Include All

question 26

Multiple Choice

Contractual duties of a principal to an agent include all but the duty to:

• A) pay the agent for losses suffered while acting legally as directed by the principal.
• B) account for financial benefits.
• C) pay for authorized expenses incurred.
• D) compensate the agent as specified in the contract.

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Definitions:

No-name Brand

Products that are not branded with a well-known or recognizable brand name, often sold at lower prices.

Surplus

An excess of production or supply over demand, often resulting in a decrease in prices.

Metering Strategy

A pricing strategy used by firms to charge consumers for the actual use of a service or product.

Profit Margins

The ratio or percentage of profit generated from sales after deducting costs, indicating the financial health and efficiency of a business.