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In general, there are three types of agents: universal agents, general agents, and special agents.
What are the 4 types of agents?
There are four main categories of agent, although you are unlikely to need the services of all of them: Artists agents. An artists agent handles the business side of an artists life. Sales agents. Distributors. Licensing agents.
What are the five types of agents?
The five types of agents include: general agent, special agent, subagent, agency coupled with an interest, and servant (or employee).
What is co-Agent in business law?
Co-agent is a person, who is named by the agent with the express or implied authority of the principal. Section 194 of the Indian Contract Act deals with the Appointment of a Co-Agent. It works under the control of the principal and is an agent of the Agent.
What is considered an agent?
An agent can be defined as any third-party individual or organization (the agent) who has been legally authorized to represent a company (the principal) and enter into legal agreements on its behalf.
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There are four main categories of agent, although you are unlikely to need the services of all of them: Artists agents. An artists agent handles the business side of an artists life. Sales agents. Distributors. Licensing agents.
What is the difference between a Sub-Agent and an agent?
Subagents typically work for the sellers agent by finding buyers for a listing. Their fiduciary duty lies with the seller. Dual agents, on the other hand, work on behalf of the buyer and seller at the same time and have a fiduciary duty to both.
What is example of agent in business?
Two common types of agents are attorneys, who represent their clients in legal matters, and stockbrokers, who are hired by investors to make investment decisions for them. The person represented by the agent in these scenarios is called the principal.
What does Agent mean legally?
An agent is a person authorized to act on behalf of another person. The party an agent is authorized to act for is known as the principal. A principal-agent relationship can either be intentionally created or created by implication through ones actions. For further information, see Agency Law.
Who is an agent and how can a person become an agent?
In other words, any person capable of contracting can legally appoint an agent. Minors and persons of unsound mind cannot appoint an agent. Who may be an Agent? In the same fashion, according to Section 184, the person who has attained the age of majority and has a sound mind can become an agent.
Related links
Coagent Definition Meaning - Merriam-Webster
Definition of coagent : a person, force, cause, or other agency working together with another.
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