Question

how may an agency relationship be formed? choose 3 answers. implied by the conduct of the principal implied by the conduct of the agent by express oral agreement between agent and principal by express written agreement between agent and principal

Answer 1

A written agreement between the agent and principle and implied conduct by the principal can create an agency relationship.

Which of the options are true?

When a set of guiding principles presented by the owner or acting head is formally accepted by the agents through a written contract, an agency is said to have been founded.

Describe an agency.

Simply put, an agency is a sort of organisation in which agents carry out their duties in accordance with predetermined standards. Today, there are advertising agencies, employment agency, and travel agencies in the private sector. For instance, government organisations fall under the public sector. In actuality, certain employment agencies are owned by the government; as a result, they could be considered public sector organisations.

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