Asked by
charlotte pajinag
on Nov 30, 2024
Verified
A gratuitous agent is subject to the same duty of loyalty that is imposed upon a paid agent.
Gratuitous Agent
An agent who works on behalf of another person (the principal) without receiving any compensation for the services.
Duty Of Loyalty
A legal obligation of individuals in fiduciary roles to act in the best interest of the party they owe the duty to, typically seen in corporate governance and employment.
Paid Agent
An individual or entity that is compensated to act on behalf of another person or company, typically in a representative or intermediary role.
- Recognize the legal obligations and duties between agents and principals.
Verified Answer
RS
Learning Objectives
- Recognize the legal obligations and duties between agents and principals.