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Pricipal and agent which one, which type?

What is the difference between a principle and an agent. Why or why not both are needed.

What is the different costs associated with hiring an agency. Discuss whether or not you think the costs are worth it. support your responses.

Which one of the types of agents and the implications of that type of agent obtaining the best deal for you

1. What is the difference between a principle and an agent? The difference is the following; The agent's duties are, according to businessdictionary.com,

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1. What is the difference between a principle and an agent? The difference is the following; The agent's duties are, according to businessdictionary.com, to (1) act on behalf of and be subject to the control of the principal, (2) act within the scope of authority or power delegated by the principal, (3) discharge his or her duties with appropriate care and diligence, (4) avoid conflict between his or her personal interests and those of the principal, and (5) promptly hand over to the principal all monies collected on principal's behalf. Principal's duties include: to (1) compensate the agent as agreed, and (2) indemnify the agent against claims, liabilities and expenses incurred in discharging duties assigned by the principal. This was explained very well by this website.

2. Why or why not both are needed? You may need one or both or none depending on the situation. If you need to have ...

Solution Summary

Author discusses principals and agents, costs of agencies and what type of agent one should hire

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