Asked by
Isabella Bello
on Nov 23, 2024
Verified
Who are the parties to an agency?
A) Trustee, Agent, Third Party.
B) Beneficiary, Agent, Third Party.
C) Trustee, Beneficiary, Third Party.
D) Beneficiary, Agent, Principal.
E) Agent, Principal, Third Party.
Agency Parties
Individuals or entities that enter into an agency relationship where one party (the agent) agrees to act on behalf of another party (the principal).
Beneficiary
An individual or entity entitled to receive benefits or proceeds from an insurance policy, trust, or will.
Third Party
An individual or group besides the two involved in a transaction or legal case.
- Acquire knowledge about the roles and responsibilities that agents hold in the negotiation and completion of contracts.
- Outline the rights and obligations of parties in an agency agreement, including termination conditions.
Verified Answer
SS
Learning Objectives
- Acquire knowledge about the roles and responsibilities that agents hold in the negotiation and completion of contracts.
- Outline the rights and obligations of parties in an agency agreement, including termination conditions.
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