Nature of Agency

Performance of acts gratuitously

Presence of contractual consideration

Agent becoming principal by legal fiction

Manifestation of consent between the principal and the agent (correct)

In acting for the principal, the agent becomes the principal authorized to perform acts on behalf of the principal (correct)

By receiving contractual consideration for the acts performed

Through gratuitous performance of acts

By manifestation of unilateral consent

Yes, contractual consideration is essential for the creation of an agency

No, consideration is not necessary; the relationship may be created by operation of law (correct)

Consideration is necessary only if the principal is acting gratuitously

Consideration is necessary only if the agent is acting gratuitously

<p>It signifies the intention of both parties to create an agency relationship</p> Signup and view all the answers

<p>The principal must intend that the agent shall act for him, and the agent must intend to accept the authority and act on it</p> Signup and view all the answers

<p>In words or conduct between them</p> Signup and view all the answers

<p>The agent must intend to accept the authority and act on it</p> Signup and view all the answers