45. Which of the following is the LEAST properexplanation about the agent?
- 1 A person authorized by another to act for him iscalled as agent.
- 2 Co-agent means one who shares authority to actfor the principal with another agent and who isso authorized by the principal.
- 3 Agents employed for the sale of goods ormerchandise are called mercantile agents.
- 4 Del credere agent is an agent who makes himselfresponsible for any bad debts through insolvencyby principal.