If There Is No Agreement as to the Amount of Compensation

question 41

True/False

If there is no agreement as to the amount of compensation to be paid the agent,the law implies a promise that the principal will pay the agent the customary fee paid in the industry.

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Definitions:

Label

A term or phrase used to categorize or describe an individual or concept, often simplifying complex characteristics.

Self-perception Theory

A psychological theory suggesting that people develop their attitudes and feelings by observing their own behavior and concluding what attitudes must have caused it.

Self-awareness Theory

A psychological concept proposing that self-focused attention leads individuals to compare their behavior to internal standards and values.

Negative Self-awareness

A heightened state of self-consciousness where an individual excessively focuses on personal flaws or deficiencies, often leading to feelings of inadequacy or inferiority.