Summary of Law
There are three classes of Principal:
| Class | Description |
|---|---|
| Disclosed | at the time of the transaction made by the Agent with the Third Party, the latter knows that the person he is dealing with is acting as an Agent and also knows the Principal’s identity. |
| Partially disclosed | at the time of the transaction, the Third Party knows that the person he is dealing with is acting as an Agent but does not know the Principal’s identity. |
| Undisclosed | The person acting as an Agent represents they are acting on their own behalf and does not disclose the existence of the agency relationship. |
Read more about this topic: Principal (commercial Law)
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