Question

An agreement between a principal and an agent by which the agent is vested with authority to represent the principal is known as a ________

Answer 1

Contract of agency

Step-by-step explanation:

The contract of agency refers to a legal contract in which the two party relationship existed, the one party would be acted as a representative for the other person who is dealing in a business to establish a contractual relationship between the other person and with the third person

Therefore the given situation is known as the contract of agency and hence the same is to be considered