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Commerce (SS)


An agent could belong to one of the following classification: Universal Agent – An agent given unlimited or unrestricted power to enter into any type of business contract on behalf of the principal. General Agent – An agent that has authority to act in all matters relating to a particular business. A Commissioned Agent – Buy and sell goods at competitive prices on behalf of the principal in return for a commission linked to sales figures posted. He can deduct his commission when remitting sales money to his principal and equally add his commission to the cost of goods bought on behalf of the principal. Broker – A commercial agent who has the following features: Does not have possession of goods A commission agent He does not sell in his own name His main job is to link his principal with potential customers He cannot pledge the goods He has… Read More »TYPES OF AGENTS And AUCTIONEER

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