Actual Authority refers to the explicit and direct authority given to an agent by a principal through mutual agreement, enabling the agent to act on the principal's behalf.
A formal relationship established through a mutual agreement between the principal and the agent where the agent is authorized to act on behalf of the principal.
Agency Theory delves into the contractual relationship between a principal and an agent, analyzing the complexities arising from asymmetric information and differing objectives. It has wide applications in economics, corporate governance, and public administration.
A comprehensive overview of an agent, including types, roles, historical context, mathematical models, and applicability across various domains.
Express Agency refers to a contractual relationship where the agent is explicitly authorized to act on behalf of the principal through clear and direct agreement.
A comprehensive examination of General Agents, including their roles, authority, examples, differences with other agents, and legal implications.
Comprehensive explanation of the Apparent Authority doctrine where a principal is responsible for the acts of an agent based on the principal's words or conduct.
Respondeat Superior is a legal doctrine in agency law that holds a principal liable for the acts of their agent.
In the law of agency, the scope of authority includes acts necessary for the accomplishment of the agency's goal, encompassing both actual and implicit delegations by the principal.
An in-depth exploration of Agency Theory, its foundational principles, examples of principal-agent relationships, common disputes, and strategies for conflict resolution.
Explore the principal-agent relationship in detail, including definitions, mechanics, examples, historical context, and its applications in various fields.
