If There Is No Agreement Between a Principal and an Agent

question 4

Multiple Choice

If there is no agreement between a principal and an agent regarding the amount for which the principal will compensate the agent,which of the following statements is true?

• A)The agent will be allowed to set the price which will be enforced unless it is unconscionable.
• B)The court will appoint a magistrate to set the price.
• C)The principal will be allowed to set the price which will be enforced unless it is unconscionable.
• D)Compensation will be calculated according to the customary fee in the situation.
• E)It will be assumed that the agent agreed to work for free on a gratuitous basis.

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Definitions:

Social Empathy

The ability to understand and share the feelings of others within a social context, leading to enhanced relationships and cooperation.

Emotional Intelligence

The ability to perceive, control, and evaluate emotions in oneself and others, which is important for personal and professional relationships.

Social Empathy

The ability to understand and share the feelings of others, especially in a societal context, fostering a sense of connection and cooperation.

Self-motivation

The internal drive that leads an individual to take action toward achieving goals without external influence.