Principal (commercial Law)
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 (Latin "he who acts through another, acts personally").
It is a parallel concept to vicarious liability and strict liability (in which one person is held liable for the acts or omissions of another) in criminal law or torts.
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Famous quotes containing the word principal:
“The principal saloon was the Howlin’ Wilderness, an immense log cabin with a log fire always burning in the huge fireplace, where so many fights broke out that the common saying was, “We will have a man for breakfast tomorrow.””
—For the State of California, U.S. public relief program (1935-1943)