Asked by Sarah-Michele Newton on May 10, 2024
Verified
Alfred works for and has authority to act on behalf of and bind Joel in contracts, who is his employer. Alfred would be considered ________
A) an agent
B) a principal
C) an endorser
D) a proprietary
E) an authorizer
Agent
An individual or entity authorized to act on behalf of another, called the principal, in transactions or other matters.
- Pinpoint the duties and positions of parties related to negotiable instruments, encompassing the drawer, maker, endorser, and acceptor.
Verified Answer
LE
Leslie EsponillaMay 12, 2024
Final Answer :
A
Explanation :
Alfred is considered an agent because he works for and has the authority to act on behalf of and bind Joel (his employer) in contracts, which is the definition of an agent in the context of agency law.
Learning Objectives
- Pinpoint the duties and positions of parties related to negotiable instruments, encompassing the drawer, maker, endorser, and acceptor.