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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").
In law, an agreement in principle is a stepping stone to a contract. Such agreements with regard to the principle are usually considered fair and equitable. Even if not all details are known, an agreement in principle may, for example, outline a schedule of royalties. [1]
A principal consequence of the doctrine of privity is that, at common law, a third party generally has no right to enforce a contract to which they are not a party, even where that contract was entered into by the contracting parties specifically for their benefit and with a common intention among all of them that they should be able to enforce it.
Royal Mail Plc said on Friday it has reached an in-principle agreement with its largest labour union, the Communication Workers Union (CWU), over company strategy, operational change and pay. The ...
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]
The Principles of International Commercial Contracts 2016 (most frequently referred to as the UNIDROIT Principles and often also referred to as PICC) is a set of 211 rules for international contracts.
Rotech Healthcare Reaches Agreement in Principle with Its Major Debtholders on Debt Reduction and Restructuring ORLANDO, Fla.--(BUSINESS WIRE)-- Rotech Healthcare Inc. (OTCBB: ROHI.OB) announced ...
Jul. 10—City and school officials said Tuesday an agreement in principle has been reached that would allow a new elementary school to be built at Manchester's Sheridan-Emmett Park. The news was ...
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