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