Agency laws are relevant to which relationships?

Social Studies

1 answer:

marin [14]3 years ago

5 0

Answer: Agency laws are relationship between two parties, usually called PRINCIPAL and AGENT

Explanation: It's worthy of notice that, agent, in law, can be defined as a relationship between two parties usually called PRINCIPAL and AGENT. The major purpose/function of the agent is to establish or create a contract between the principal and third parties. In most cases, he/she(agent) acts on behalf of the principal.

Agency is therefore, the relationship that subsists between the principal and the agent, who has been given order or authorized to act on his behalf or represent him in dealing with others. However, In an agency, two contracts always take effect.

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