Tag: agent

what is agency in law

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agency,in law,the relationship that exists when one person or party (the principal) engagesanother (the agent) to act for him鈥?e.g.,to do his work,to sell his goods,to manage his business. The law of agency thus governs the legal relationship in which the agent deals with a third party on behalf of the principal.

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  • What is the law of agency in law?

  • Agency, in law, the relationship that exists when one person or party (the principal) engages another (the agent) to act for him鈥?e.g., to do his work, to sell his goods, to manage his business. The law of agency thus governs the legal relationship in which the agent deals with a third party on behalf of the principal.

  • What are the duties of an agent in law?

  • Duties of Agents The definition of agency law deals with agent-principal relationships; that is a relationship where one party has the legal authority to act in place of another. Relationships that are commonly associated with agency law include employer-employee, administrator-decedent or executor, and guardian-ward.

  • What is the difference between an agency and an agent?

  • An agency is formed when a principal asks an individual to make a delivery or names someone as an agent through a contract leading to the responsibility of the principal for actions made by the agent while the agent’s actions are akin to those of the principal.

  • What is the meaning of a agency agreement?

  • Agency refers to an agreement, explicitly stated or implied by which one party, called the principal, entrusts the management of a business to another party, called the agent, to carry out transactions on his account or in his name, and the agent agrees to carry out the business and render an account of his proceedings.