What is the law of agency?

The law of agency in Oklahoma is a set of legal principles that governs the relationship between an agent and a principal. In essence, an agent is an individual or entity that is contracted to act on behalf of another individual or entity (the principal). In this relationship, the agent is authorized to legally bind the principal to certain obligations or contracts, such as a purchase or sale of goods and services. The principal has the right to control the agent’s activities, so long as the actions are within the scope of the agency. The agent also has certain duties towards the principal, such as loyalty, duty to act in the best interests of the principal, and a duty to perform the agreed upon tasks. Furthermore, the agent is liable to the principal for any damages or losses caused by the agent’s negligent or wrongful acts. The law of agency is an important concept in commercial law, as it is a source of legal obligations between parties. It is important for businesses and individuals alike to understand the legal implications of such obligations, in order to ensure that their rights and interests are adequately protected.

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What is the law of agency?

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