Asked by Annabelle Beauchamp on May 05, 2024
Verified
If an agency relationship is made specifically with the agent, not the principal in mind, this is known as an ________.
A) agency for an agent
B) agency coupled with an interest
C) agency benefitting the agent
D) agency compensation principle
E) agency entitlement principle
Agency Coupled With Interest
An agency coupled with an interest is a situation in which an agent has been given rights or property interest in the subject matter of the agency, making the agency irrevocable for a specified period.
- Gain an understanding of agency fundamentals, the responsibilities of principals, and how principals are held liable for their agents' actions.
Verified Answer
ZK
Zybrea KnightMay 08, 2024
Final Answer :
B
Explanation :
An agency coupled with an interest is a type of agency relationship where the agent has some interest in the subject of the agency, beyond just earning a commission or fee. This interest could be a financial stake in the property or business being dealt with, making the agency relationship more secure and not easily revocable by the principal.
Learning Objectives
- Gain an understanding of agency fundamentals, the responsibilities of principals, and how principals are held liable for their agents' actions.
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