Asked by Brandy Thatcher on May 25, 2024
Verified
Not only does the agent have to communicate offers from third parties,but the agent must also communicate any information the agent thinks could be important to the principal.This is known as the duty of collaboration.
Duty of Collaboration
An obligation for parties in a business relationship to work together in good faith to achieve mutual goals.
- Gain insight into the functions and rights of agents and principals with respect to one another.
Verified Answer
MS
Malak SinghMay 28, 2024
Final Answer :
False
Explanation :
Not only does the agent have to communicate offers from third parties,but the agent must also communicate any information the agent thinks could be important to the principal.This is known as the duty of notification.For example,if a third party has made an agreement through an agent with a principal and the third party has failed to meet the agreement,the agent must notify the principal of this information in a timely manner.
Learning Objectives
- Gain insight into the functions and rights of agents and principals with respect to one another.