13.01 Modern commercial transactions cannot be conceived without intermediaries interacting on behalf of those parties which will finally be the contracting partners. Such persons acting on behalf of others are regarded as agents. Those for whom the agents are acting—the principals—are bound by the agents’ act and thus subject to the rights and duties arising from the thereby concluded contract.1 The agent, in contrast, is not a party to the contract.2 For the general concept of agency it matters not whether the principal is a natural person or—as usually in...
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