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The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, who is authorized to act on behalf of another (called the principal) to create legal relations with a third party. [1]
An agency agreement is a legal contract creating a fiduciary relationship whereby the first party ("the principal") agrees that the actions of a second party ("the agent") binds the principal to later agreements made by the agent as if the principal had himself personally made the later agreements.
Castillo argued that agency relationship existed between ATC and Case Farms, and the scope of that relationship included both the express authority to recruit and hire people to work at Case Farms’ plant, and the implied authority to do all things proper, usual and necessary to exercise that authority.
In commercial law, a principal is a person, legal or natural, who authorizes an agent to act to create one or more legal relationships with a third party.This branch of law is called agency and relies on the common law proposition qui facit per alium, facit per se (from Latin: "he who acts through another, acts personally").
The employer–employee relationship is the most common area respondeat superior is applied, but the doctrine is also used in the agency relationship. Then, the principal becomes liable for the actions of the agent even if the principal did not commit the act.
Legal jurisdictions which provide for apparent authority include the United States, the United Kingdom, Australia, Canada and South Africa.The doctrine of apparent authority is based on the concept of estoppel, thus, it prevents the principal from denying the existence of agency to a third party, provided that a representation, as to the agent's authority, has been made by him to the third ...
Sub-agent (Sub-agency) is a real estate term in the United States and Canada describing the relationship which a real estate broker and his/her agents have with a buyer of a business, home, or property.
An iron triangle relationship can result in regulatory capture, the passing of very narrow, pork-barrel policies that benefit a small segment of the population. The interests of the agency's constituency (the interest groups) are met, while the needs of consumers (which may be the general public) are passed over.