Asked by Nishallinee Shanmugam on May 05, 2024
Verified
While an agent owes duties to a principal,a principal owes no duties to an agent.
Principal
The amount of money originally invested or loaned, on which basis interest and returns are calculated.
Agent
A party who has the authority to act on behalf of and bind another party.
- Understand the obligations and entitlements of agents and principals in relation to one another.
Verified Answer
MT
Morgan TaylorMay 12, 2024
Final Answer :
False
Explanation :
When a principal contractually agrees that another person can make agreements on his or her behalf,the principal owes certain duties to the agent.Those duties include the duty of compensation,reimbursement and indemnification,cooperation,and safe working conditions.If these duties are not fulfilled,the principal has violated the agent's rights.Consequently,the agent can bring a suit against the principal.
Learning Objectives
- Understand the obligations and entitlements of agents and principals in relation to one another.