What is the law of agency?

The law of agency is an important concept of Commercial Law in Arizona. It is a legal relationship between two parties, the principal and the agent. A principal can be any type of entity, such as an individual, a business entity, or even a government agency. The agent is the individual or entity acting on behalf of the principal. Under the law of agency, the agent has the authority to act on the principal’s behalf for certain tasks, such as signing documents or entering into agreements with third parties. When an agent acts on the principal’s behalf, the principal is liable for any contracts that the agent makes. This means that the principal is responsible for any repercussions from the contracts the agent enters into. The law of agency also provides the agent with certain rights, such as the right to be compensated for services rendered. The agent can also hold the principal liable for their negligence while acting on their behalf. In summary, the law of agency is an important concept of Commercial Law in Arizona. It is the legal relationship between a principal and an agent. The agent is given the authority to act on behalf of the principal and is held liable for any contracts they enter into. The principal is also responsible for the repercussions of the agent’s contracts. The law of agency also provides the agent with certain rights, such as compensation for services rendered.

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What is the law of agency?

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