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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]
A registered agent is a designated person or entity authorized to receive legal and official documents on behalf of a company or LLC, and can be referred to as "Resident Agent", "Statutory Agent", commercial or noncommercial clerk, [5] [6] or by the Federal Motor Carrier Safety Administration (FMCSA), a "process agent". [7]
An agent who acts within the scope of authority conferred by their principal binds the principal in the obligations the agent creates with third parties. There are essentially two kinds of authority recognised in the law: actual authority (whether express or implied) and apparent 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").
Definition of agency [ edit ] According to paragraph 1.01: "Agency is the fiduciary relationship that arises when one person (a 'principal') manifests assent to another person (an 'agent') that the agent shall act on the principal's behalf and subject to the principal's control, and the agent manifests or otherwise consents so to act."
Registered agent, in the US, receives service of process for a party in a legal action; Shipping agent, a person responsible for handling shipments and cargo; Sports agent, a legal representative for professional sports figures such as athletes and coaches; Talent agent or booking agent, a person who finds jobs for entertainment professionals
Commercial law (or business law), [1] which is also known by other names such as mercantile law or trade law depending on jurisdiction; is the body of law that applies to the rights, relations, and conduct of persons and organizations engaged in commercial and business activities.
There are three necessary components to be considered as a foreign agent under FARA. First, to be considered as a foreign agent, a legal or natural person must act in a capacity of an agent, representative, employee, servant, or any other capacity, at the order, request, or under the direction or control of a foreign principal. The conception ...