1.The Board of Huck Ltd. is considering an expansion of the Company's activities but is not willing to take

on significant additional debt owing to its concerns about possible future economic conditions.

The Board has decided to give effect to its expansion plans by appointing a network of agents.

You are required to prepare a report to the Board dealing with the following issues:

a. How can the agency relationship be established?

b. Explain any three (3) duties of the agents to the principal.

c. What conditions must be met before the principal can ratify the agent's actions?