Asked by
Utari Natania
on Dec 18, 2024
Verified
Which parties are bound by the contract arising from a properly fulfilled agency?
A) Trustee and Agent.
B) Trustee and Beneficiary.
C) Principal and Agent.
D) Agent and Third Party.
E) Principal and Third Party.
Principal and Third Party
Legal terms describing the major participant in a transaction (principal) and an outsider who has a lesser role (third party).
Agency Contract
A legal agreement wherein one party, the agent, agrees to act on behalf of another party, the principal, in business transactions.
Bound
Legally or morally obligated; a condition of being tied to an agreement or course of action.
- Acquire knowledge on the implications of agency relationships for contracts made with third parties.
Verified Answer
AB
Learning Objectives
- Acquire knowledge on the implications of agency relationships for contracts made with third parties.
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