Asked by
Hunter Palatini
on Nov 28, 2024
Verified
Roc is an agent for Statistics Inc. On the firm's behalf and at its request, Roc pays Tech LLC for specially customized software. Roc's right to obtain the amount of the payment from Statistics Inc. arises under the duty of
A) none of the choices.
B) compensation.
C) indemnification.
D) reimbursement.
Specially Customized
Tailored or adapted for a specific purpose, user, or requirement, often involving unique modifications or designs.
Indemnification
A contractual obligation of one party to compensate for the loss incurred by another party due to specific acts or events.
Reimbursement
The act of compensating someone for an expense or loss, often by the original payer or a responsible third party.
- Gain an understanding of the responsibilities that principals and agents owe to each other, including working together, covering losses, and providing refunds.
Verified Answer
AS
Learning Objectives
- Gain an understanding of the responsibilities that principals and agents owe to each other, including working together, covering losses, and providing refunds.