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SBL Specimen Exam 2 Q1 Agency relationship

This topic has 1 reply, 2 voices, and was last updated 5 years ago by Ken Garrett.

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September 9, 2019 at 4:25 pm #545666
pakfai923
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Are there any agency relationship between the Board of Directors and all the other 5 committee below it?
September 10, 2019 at 4:07 pm #545770
Ken Garrett
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An agency relationship can be said to exist any time you identify a party as a principal and other parties as agents who must act on behalf of the principle. So yes, you could argue that the committees are the agents of the main board.
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