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1 The Nature of ‘Agency’

From: Agency: Law and Principles (4th Edition)

Roderick Munday

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 04 July 2022

Subject(s):
Agent's duties and liabilities — Agent's rights against principal — Authority of agent — Nature of agency — Legal relations between principal and third party

This chapter begins with the definition of agency by the American Law Institute’s Restatement of the Law, which describes agency as the fiduciary relationship that arises when one person or principal manifests assent to another person or agent. It explains that the agent acts on the principal’s behalf and subject to the principal’s control, and the agent manifests assent or otherwise consents to the act. It also analyzes the different forms of agency that illustrate individuals and entities whose activities that are not governed by the law of agency. The chapter talks about an agent that do not normally fulfil the classical criteria of agency when selling properties for clients. It looks at the problem of distinguishing between true cases of agency and other legal relationships.

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