In a principal/agent relationship for contracts with customers, the pre-determined fee or commission for services is earned by the:Group of answer choices
Question
In a principal/agent relationship for contracts with customers, the pre-determined fee or commission for services is earned by the:
Group of answer choices
Solution
In a principal/agent relationship concerning contracts with customers, the pre-determined fee or commission for services is typically earned by the agent. The agent acts on behalf of the principal and usually receives compensation based on the successful completion of services or transactions. This relationship is characterized by the agent's responsibility to represent the principal's interests, while the principal provides guidance and resources. It's important to note that the specific terms of payment and the earning of commissions can vary based on the contractual agreement between the parties involved, but generally, it is the agent who earns the fees through their efforts in facilitating the contract or transaction.
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