Asked by
Kuldeep Chauhan
on Nov 30, 2024
Verified
The principal has a duty to indemnify the agent for losses incurred or suffered while acting as directed by the principal in a transaction which is not illegal or wrongful.
Duty To Indemnify
It is an obligation to compensate for loss, damage, or liability incurred by another, often specified within a contract.
Suffered While Acting
Experiencing harm or injury in the course of performing duties or actions.
- Understand the outcomes and consequences of actions taken by agents for principals, along with the persistence of principals' duties.
Verified Answer
IP
Learning Objectives
- Understand the outcomes and consequences of actions taken by agents for principals, along with the persistence of principals' duties.