Brief Statement of Legal Principles
There are three broad classes of agent
- Universal agents hold broad authority to act on behalf of the principal, e.g. they may hold a power of attorney (also known as a mandate in civil law jurisdictions) or have a professional relationship, say, as lawyer and client.
- General agents hold a more limited authority to conduct a series of transactions over a continuous period of time; and
- Special agents are authorized to conduct either only a single transaction or a specified series of transactions over a limited period of time.
Read more about this topic: Law Of Agency
Famous quotes containing the words statement, legal and/or principles:
“He that writes to himself writes to an eternal public. That statement only is fit to be made public, which you have come at in attempting to satisfy your own curiosity.”
—Ralph Waldo Emerson (1803–1882)
“The disfranchisement of a single legal elector by fraud or intimidation is a crime too grave to be regarded lightly.”
—Benjamin Harrison (1833–1901)
“Magic is akin to science in that it always has a definite aim intimately associated with human instincts, needs, and pursuits. The magic art is directed towards the attainment of practical aims. Like other arts and crafts, it is also governed by a theory, by a system of principles which dictate the manner in which the act has to be performed in order to be effective.”
—Bronislaw Malinowski (1984–1942)