Answer:
A). the third person or beneficiary (the person who benefits from the agent's action).
Step-by-step explanation:
An 'agency relationship' is characterized as a legal association through which an individual(the agent) is allowed to take decisions or actions on the principal's part with his due consent. The three persons or parties that are involved in such a relationship include the principal who authorizes the agent to act on his behalf, the agent who is the entrusted individual allowed to act or do business in the place of the principal, and the third person who is directly dealt by the agent(on principal's part). Thus, option A is the correct answer.