A Del Credere Agent

question 37

Multiple Choice

A del credere agent:

• A)agrees to indemnify the principal in the event of non-performance by the third party.
• B)is usually not entitled to a commission.
• C)agrees to indemnify the principal in the event of negligence.
• D)is authorised to do anything on behalf of the principal that the principal can do.

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Definitions:

Total Utility

The complete happiness or advantage gained from using a specific amount of products or services.

Product Consumed

Refers to goods or services that have been used by consumers, fulfilling needs or wants.

Marginal Utility

The extra pleasure or benefit a customer gets from purchasing an additional unit of a product or service.

Utility

The satisfaction or benefit derived by consuming a product or service.