- 1 Marks
Question
An agent that represents a principal in the disposal of real property is called a/an
A. Broker Agent
B. Factor Agent
C. Auctioneer
D. Mercantile Agent
E. Del-credere Agent
Answer
A. Broker Agent
Explanation:
The answer is A because a broker agent specializes in negotiating the sale or purchase of real property on behalf of a principal. Auctioneers conduct public sales, factor agents deal with the sale of goods, mercantile agents handle commercial transactions, and del-credere agents guarantee the creditworthiness of third parties but do not specialize in real property disposal.
- Tags: Agency Law, Legal Representation, Principal-Agent Relationship, Real Property
- Level: Level 1
- Topic: Agency Law
- Series: NOV 2014
- Uploader: Dotse