What is the law of agency?

The law of agency in Oklahoma is a form of business law that defines the legal relationship between a principal, such as a company, and its agent, such as an employee. The relationship between the principal and agent is known as an agency. Under Oklahoma law, an agency is formed when the principal grants authority to the agent to act on their behalf. An agent is not an employee of the principal and instead acts independently. This means that the agent is able to enter into agreements and conduct business on behalf of the principal. The agent must also adhere to the instructions provided by the principal. This includes ensuring that their duties are fulfilled and that any agreements made are in the best interests of the principal. The agent must also act in good faith and adhere to any instructions or restrictions imposed by the principal. Finally, it is important to note that an agency relationship can be terminated by either party at any time. This means that the agent is not bound to the principal for an indefinite period and can leave the relationship whenever they choose. Similarly, the principal can also terminate the relationship without providing notice.

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What is the law of agency?

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