One of the duties generally imposed on the principal by the common law is the duty to:
A) share profits and losses.
B) reimburse and indemnify.
C) account for funds and property.
D) consult.

Question

Quizplus · Accepted Answer

A well-drafted agency contract would be expected to set out the duties the principal owes to the agent. However, if the contract is poorly drafted or if there is no contract at all, the courts look to the common law of agency for guidance. The duties generally imposed on the principal by the common law are the duty to reimburse and indemnify, duty to compensate, and the duty to keep accounts.

One of the Duties Generally Imposed on the Principal by the Common