A Principal-Agent Contract

question 43

Multiple Choice

A principal-agent contract

• A) must be in writing if it involves the sale of real estate.
• B) must be in writing if the relationship is to last for less than one year.
• C) never needs to be in writing.
• D) must always be in writing.

---

Definitions:

Exchange Rate

The value of one currency for the purpose of conversion to another, indicating how much of one currency can be exchanged for another.

American Goods

Products manufactured, produced, or grown within the United States.

Pesos

The unit of currency in several Latin American countries and the Philippines.

Price of the Euro

The exchange value of the Euro currency in terms of another currency; it fluctuates based on demand and supply in the foreign exchange market.