BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Agency
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Tort
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Statutory
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Administrative
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Detailed explanation-1: -Agency relationships An agent in commercial law (also referred to as a manager) is a person who is authorized to act on behalf of another (called the principal or client) to create a legal relationship with a third party.
Detailed explanation-2: -According to Section 191, a “sub-agent” is a person employed by and acting under the control of, the original agent in the business of the agency.
Detailed explanation-3: -An agent, in legal terminology, is a person who has been legally empowered to act on behalf of another person or an entity. An agent may be employed to represent a client in negotiations and other dealings with third parties. The agent may be given decision-making authority.
Detailed explanation-4: –An ‘agent’ is a person employed to do any act for another, or to represent another in dealings with third person. The person for whom such act is done, or who is so represented, is called the ‘principal’.-An ‘agent’ is a person employed to do any act for another, or to represent another in dealings with third person.