Agent refers to a person (natural or legal) authorized by another (the principal ) to act on their behalf in legal or business matters, creating legal relations between the principal and third parties. The agent operates under the principal’s control and must act within the scope of their authority. Key elements include: Fiduciary duty : The agent owes loyalty and care to the principal. No personal liability : The principal is liable for the agent’s actions (unless the agent acts beyond authority or is an undisclosed agent ). Express/implied authority : Authority can be granted explicitly (written/verbal) or inferred from conduct. Agents may be classified as general (broad powers), special (limited tasks), universal (full powers), or sub agents (agents of agents). The relationship terminates by completion of tasks, mutual agreement, or principal’s death (unless irrevocable by law).

Define agent. – Business Law TU Board 2082 (old course) Solution

Hierarchical breakdown of an agent’s role, definitions, and types with real-world examples

Agent refers to a person (natural or legal) authorized by another (the principal) to act on their behalf in legal or business matters, creating legal relations between the principal and third parties. The agent operates under the principal’s control and must act within the scope of their authority. Key elements include:

Fiduciary duty: The agent owes loyalty and care to the principal.
No personal liability: The principal is liable for the agent’s actions (unless the agent acts beyond authority or is an undisclosed agent).
Express/implied authority: Authority can be granted explicitly (written/verbal) or inferred from conduct.

Agents may be classified as general (broad powers), special (limited tasks), universal (full powers), or sub-agents (agents of agents). The relationship terminates by completion of tasks, mutual agreement, or principal’s death (unless irrevocable by law).

Define agent.

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