Legal agreement or contractual arrangement by which one party is authorized to act as the representative, or in place of another.
The relationship between the Principal (a buyer or seller) and the Agent, who was appointed, selected, empowered, given authority by the Principal to represent his/her interests in dealings with third parties and to bind the Principal to statements, warranties or contracts.
an organization authorized as a representative see area development agency. definition of agency defined meaning of agency representation official agency for economic development agency for a state development agency that is official
The legal relationship resulting from an agreement that the agent if authorized by a principal to perform certain acts on behalf of the pri9ncipal in dealing with a third party.
A relationship created when one person, the principal, delegates to another, the agent, the right to act on his/her behalf in business transactions and to excuse some degree of disaction while so acting.
The legal relationship between an agent and a principal. The legal relationship between two parties by which one party, the agent, is authorized to perform certain acts on behalf of the other party, the principal.
A relationship by which one party, usually the agency, is empowered to enter into binding transactions affecting the legal rights of another party, usually called the principle, as for example, entering into a contract or buying or selling property in someone's name or on someone's behalf. An administrative branch of government.
A legal relationship in which one party, known as the principal, authorizes another party, known as the agent, to act on the principal's behalf. See also agent and principal.
A legal relationship in which one person acts for another when engaging in business with a third party.
An agency is created when one person, called the principal, authorizes another person, called the agent, to act on behalf of and subject to the control of the principal.
An individual or company acts as intermediary pairing up buyers and sellers, taking no financial risk, and charging a commission for the service. also, the relationship between an agent and a principal. see also agent .
A legal relationship whereby one person, the agent, represents another, the principal, in dealing with third persons.
The legal status of any real estate agents involved in the sale as to who the agents represent
the fiduciary relationship in which one person (the agent) represents another (the principal) in dealing with third parties, as authorized by the principal. *See Agency Disclosure Form.
An insurance sales office that is directed by a general agent, manager, independent agent or company manager.
A legal relationship by which one party is empowered and obligated to act on behalf of another party.
When a person is given agency authority, he is given the legal right to act for another.
A relationship where one person acts (with authority) on behalf of another.
A media company, advertising agency, or any other kind of representative of an advertiser.
A contract by which the agent undertakes to represent the principal in business transactions, using some degree of discretion.
A person authorized to act for the group when negotiating. He must have the authority to act for the principal and, included in that authority, is the power to undertake the specific transaction.
A business office whose function is the sales of insurance and insurance products. An agency may be owned or run by a general agent, manager, independent agent, or company manager. The principal is responsible for the statements and actions of agents performing within the scope of authorization specified in the agency agreement.
The corporate umbrella that houses licensed entertainment representation. Classically, agencies work on commission, taking a set percentage of the revenue received by the artist they represent. While, for the most part, this remains the same in contemporary Hollywood, agencies now find revenue through alternate sources, such as packaging television, as well. In the case of most large entities, the agency takes the commission; while an individual agent may receive a year-end bonus reflecting the income they brought the company.
The business organization of an agent or a group of agents.
A relationship in which a real estate broker or associated licensee represents a client in a real property transaction. The relationship can be express (evidenced by a written agreement) or implied (no written agreement). In Illinois, a real estate agent will owe the client certain statutory duties that are similar to fiduciary duties (see agency duties below).
An authorised agent may bind his Principal (the person who authorised him) to a contract with a third party.
A mutual-consent, legal relationship in which a seller or buyer engages a broker-agent in the sale or purchase of property.
The relationship that a real estate agent has with a customer or client.
This legal term is used by the courts to describe a relationship where one party (the principal) has the right to control the actions of another party (the agent). For purposes of copyright law, the author of the work of expression may be considered a hiring party's employee if an agency relationship exists between them, even if there is no formal employment relationship. Under copyright law, a work of expression created by an employee in the course of his or her work is considered a work made for hire, which means that the copyright in the expression belongs to the hiring party.
A relationship of trust whereby one party, the principal, entrusts another party, the agent, to act in their behalf and to represent them in doing business with other parties.
A legal relationship that is created when one party retains a second party to act on his or her behalf.
a company that represents many different insurance companies
The ability of individuals to act as self-conscious, willful social agents, and to exert their will through involvement in social practices, relationships, and decision-making.
The relationship between principal and the principal's agent which arises out of a contract in writing wherein the agent is employed by the principal to do certain acts dealing with a third party.
Buying or selling for the account and risk of a customer. Generally, an agent, or broker, acts as intermediary between buyer and seller, taking no financial risk personally or as a firm, and charging a commission for the service. The broker represents a customer buyer/seller to a customer seller/buyer and does not act as principal for the firm's own trading account.
law) A relationship between one individual or legal entity (the agent) who represents, acts on behalf of, and binds another individual or legal entity (the principal) in accordance with the principal's request or instruction.
A fiduciary relationship that exists between sellers and buyers and their agents. The agency is formed through a written contract only. In Georgia, BRRETA limits the fiduciary aspect of that relationship but establishes guidelines for the client/agent relationship.
An agency generally exists because of a relationship between two parties where one party acts on behalf of the other. For example, an agent will represent a client and conduct transactions with a third party on that client's behalf.
The relationship resulting from mutual consent between the principal and his or her agent that the agent will act on the principal¡¯s behalf and subject to his or her control.
A written contract that states that a specific person (usually a real estate agent) has authority to act on behalf of someone else (usually either the buyer or seller).
A relationship in which one party (known as the principal) authorizes another party (the agent) to act as the principal's representative in dealing with third parties. Agency law generally involves rights and liabilities among these three parties.
An agency or individual agent will often represent talent in negotiations concerning the talent's fee. DJ agencies generally represent a stable of DJs, and when hiring a DJ, the agency might not know which DJ will service your reception until shortly before the day of the wedding. A musician's agent will negotiate for a specific musician. Agents usually receive around ten percent of the musician's fee.
The relationship between a principal and an agent wherein the agent is authorized to represent the principal in certain transactions.
The relationship between an agent and principal. One who represents another from whom he has derived authority.
A legal relationship in which someone (principal) hires someone else (agent) to represent them to a third party.
WA law that deals with your legal rights when dealing with a real estate broker or sales person. Ask you Windermere agent to explain in detail how you will be represented.
A legal relationship in which an owner principal engages a broker agent to market the owner's property, or a buyer principal engages a broker agent to locate and negotiate for purchase of property on satisfactory terms.
Context entity in entity model Activity Model: (Title, Viewpoint, Scope) An administrative body having the delegated authority to act competently as an agent of a higher body. Every agency is a juridical person, composed of juridical persons.
A relationship in which the agent is given the authority to act on behalf of another person (Principal)
A relationship created when one person, the "principal," delegates to another, the "agent," the right to act on the principal's behalf in business transactions and to exercise some degree of discretion while so acting. An agency gives rise to a fiduciary relationship and imposes on the agent, as the fiduciary of the principal, certain duties, obligations and high standards of good faith and loyalty.
A relationship created when one person (the principal) delegates to another person (the agent) the right to act on the principal's behalf. In Georgia we are mandated by law to disclose our agency relationship in all real estate transactions. We can be a Buyer's Agent, a Seller's Agent, a Transaction Agent or a Designated Dual Agent (one who represents both Buyer and Seller in a transaction). Make sure you understand the Agency you have with any Realtor before you enter a transaction
1) A situation wherein one party (an agent) has the power to act for another (the principal) in dealing with third parties. 2) An insurance sales office.
In real estate, an agency is created by the contract between a Real Estate Broker and an owner of real property whereby the broker agrees to act as the owner's agent in representing and negotiating for sale of the property under contract. The contract is known as a listing agreement.
The practice of representing either the buyer or the seller.
This is the agreement between an agent and an insurance company which gives the agent the authority (with limitations spelled out in the agency agreement) to act on the company's behalf. The term also refers to the office with which the agent is affiliated.
Express or implied authorization for one person to act for another Agent. A representative, one who is authorized to act on behalf of another
The relationship between an agent, also known as a broker, and the real estate owner.
A legal relationship between two or more persons whereby one person (the agent) is authorized to act on behalf of the other(s). See dual agency and single agency.
representing the buying and selling of equity activities for a customer
A governmental department that represents or acts on the behalf of others.
Any relationship win which one party (agent) acts for or represents another (principle) under the authority of the latter. Agency involving real property should be in writing, such as listing, trusts, power of attorney, etc.
1: A transaction in which the broker-dealer acts as an agent for the account. An agent (broker) acts as an intermediary between a buyer and a seller and charges a commission for this service. 2: Government securities issued by entities other than the US Treasury such as the Federal Home Loan Bank. See: Agency Transaction; Government Agency Securities
legal relationship by which one part y is empowered to act on behalf of another part [D00071] PMK87
A relationship between two or more persons whereby one is authorized to act for another.
A relationship of trust created when one person, the principal, delegates to another, the agent, the right to represent the principal in dealing with the third parties.
An insurance sales office which is directed by a agent, manager, independent agent, or company manager. (G)
1) The legal relationship between Buyer or Seller and their Realtor; 2) The relationship between a person (the Principal) and another person (the Agent) who was appointed, selected, empowered, given authority by the Principal to represent the interests of the Principal in dealings with third parties and to bind the Principal to statements, warranties or contracts.
A term used to describe the relationship between a seller and a broker, or a buyer and a broker.
This framework has developed in the law to allow individuals to act through another person or representative. In real estate, it refers to working with a real estate broker to buy or sell property. Your legal agent may have unlimited or limited powers on your behalf and owes you fiduciary duties such as loyalty, accounting and disclosure. In the purchase or sale of real estate, you have several agency options.
Includes every relation in which one person acts for or represents another by the latter's authority; where one person acts for another either in the relationship of principal and agent, master and servant, or employer-proprietor and independent contractor.
The relationship of the agent, a person who acts on behalf of another person, known as the principle. Agent's Duties to principal- loyalty, obedience, performance, reasonable care, accounting, notification
Central Intelligence Agency (CIA) A common slang word used when talking with other Intelligence agents.
The law of agency varies by state but generally the concept of agency explains who represents whom in a real estate transaction. The listing agent represents the seller The buyer's agent represents the buyer. A dual agent represents both sides in the transaction, which raises the question as to whose side the agent is on.
Any relationship in which one party (agent) acts for or represents another (principal) under the authority of the principal. Agency involving real property should be in writing, such as listing, trust, powers of attorney, etc.
A legal relationship in which an agent is authorized to act for another. In the case of real estate, a buyer or seller engages a real estate agent. The agent has a fiduciary obligation to perform required duties in good faith and in the interest of the buyer or seller.
An agency relationship is created when you appoint someone to act on your behalf. In so doing, the agent then becomes bound by certain fiduciary duties, which include obedience, loyalty, disclosure, confidentiality, accountability and reasonable care and diligence. An agency relationship can be created by a desire to be represented and a consent to represent, however it is more often created as a result of a listing agreement or a buyer representation agreement.
A legal relationship in which an owner-principal engages a broker-sales associate in the sale of property or buyer-principal engages a broker-sales associate in the purchase of property.
The relationship of trust that exists between sellers and buyers and their agents. The agency is formed through a written contract.
A relationship in which one party represents another under authority of the latter.
A legal concept where one party acts for another (the principal) in affecting relations with another party. Used to describe the business of a person acting as an agent, e.g. for obtaining insurances.
It is the relationship that exists between a principal and an agent that arises out of a contract. The contract may be either expressed or implied, written or oral. The agent is in essence employed by the principal to do certain acts when dealing with a third party. No consideration need be paid to create an agency relationship.
A relationship in which one person is empowered to act on behalf of another, subject to the control and consent of the person being represented.
A legal relationship in which an owner-principal engages a broker-agent in the sale of property or a buyer-principal engages a broker agent in the purchase of property.
The relationship for which a broker/agent represents a principal.
When one person acts on behalf of another person.
a relationship between two parties where one (the AGENT) is empowered to act on behalf of the other (the PRINCIPAL). (See AUTHORITY)
The legal relationship between a principal and his agent arising from a contract in which the principal engages the agent to perform certain acts on the principals behalf.
The relationship between a principal and an agent, usually a property owner and a real estate broker.
The legal relationship between a principal and an agent. In real estate transactions, usually the seller is the principal, and the broker is the agent: however, a buyer represented by a broker (i.e., buyer as principal is a growing trend. In an agency relationship, the principal delegates to the agent the right to act on his or her behalf in business transactions and to exercise some discretion while so acting. The agent has a fiduciary relationship with the principal and owes to that principal the duties of accounting, care, loyalty, and obedience. Also see buyer's broker
The relationship between two or more persons wherein the agent is authorized to act on behalf of another person (or principal) in certain transactions
The relationship between an individual and agent which arises out of a contract (written or oral) in which the agent is employed and authorized by the individual to represent him or her in business transactions with a third party.
The relationship between two people or entities where one is a principal and the other is an agent representing the principal in activities with other parties, such as a real estate agent buying or selling for a client.
The relationship between principal and agent, wherein an agent is employed and authorized by the principal to represent the principal in business transactions with a third party.
The legal relationship that exists between a principal and agent, whereby the agent has legal authority to act for and represent the principal in dealing with third parties.
A relationship between two parties -- a client and an agent -- in which the agent represents the client in transactions with a third party.
Agency is an area of Commercial law dealing with a contractual or quasi-contractual tripartite set of relationships when an Agent is authorised to act on behalf of another (called the Principal) to create a legal relationship with a Third Party.