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:
“A sentence is made up of words, a statement is made in words.... Statements are made, words or sentences are used.”
—J.L. (John Langshaw)
“No oppression is so heavy or lasting as that which is inflicted by the perversion and exorbitance of legal authority.”
—Joseph Addison (1672–1719)
“The same principles which at first view lead to skepticism, pursued to a certain point, bring men back to common sense.”
—George Berkeley (1685–1753)