Special agency occurs when an individual, known as the agent, is authorized to act on behalf of another individual, referred to as the principal, and make decisions on their behalf. This authorization can be granted through a contractual agreement or mandated by the law. The agent has the authority to make decisions that will impact the principal, and the principal assumes responsibility for these decisions. It is akin to having an assistant who can perform tasks on your behalf, while still retaining control and accountability for their actions.
Special agency refers to a particular type of relationship in which one individual, known as the agent, is granted the authority to act on behalf of another individual, referred to as the principal, for a specific purpose or task. This relationship can be established through either an explicit or implicit contract, or by legal means. For instance, if a homeowner hires a real estate agent to sell their property, the real estate agent assumes the role of a special agent solely for the purpose of selling the house. The agent possesses the power to act on behalf of the homeowner in matters pertaining to the sale, such as negotiating with potential buyers and executing contracts. Another example of special agency arises when an individual engages the services of a lawyer to represent them in a legal matter. In this scenario, the lawyer becomes a special agent for that particular legal issue and is authorized to act on behalf of their client in court proceedings and negotiations with other involved parties. In summary, special agency denotes a specific form of agency relationship wherein the agent is granted the authority to act on behalf of the principal for a distinct purpose or task.
A special agency is a type of agency relationship where an agent is authorized to perform specific tasks or transactions on behalf of the principal. Unlike a general agency, which grants broader authority, a special agency is limited in scope.
A special agency can be created through an express agreement between the principal and the agent. This agreement outlines the specific tasks or transactions the agent is authorized to undertake on behalf of the principal.
A special agent has a duty to act in the best interests of the principal and to carry out the specific tasks or transactions authorized by the principal. They must exercise reasonable care, loyalty, and obedience in fulfilling their duties.
Yes, a special agent can bind the principal to contracts within the scope of their authority. However, it is important for the principal to clearly define the limits of the agent’s authority to avoid any unauthorized commitments.
In general, a special agent cannot delegate their authority to another person unless expressly authorized by the principal. The principal has the right to expect that the agent will personally perform the tasks or transactions assigned to them.
No, a special agent cannot act beyond their authorized scope without the principal’s consent. Any actions taken outside the scope of authority may not be binding on the principal and could potentially lead to legal consequences for the agent.
Yes, a special agency can be terminated in several ways, including completion of the specific tasks or transactions, expiration of the agreed-upon time period, mutual agreement between the principal and agent, or revocation by either party.
Yes, a special agent can be held liable for their actions if they fail to fulfill their duties or act negligently. They may be responsible for any damages or losses incurred by the principal as a result of their actions or omissions.
Yes, a special agent is generally entitled to receive compensation for their services unless otherwise agreed upon. The amount and method of compensation should be clearly outlined in the agency agreement.
In some cases, a special agent may represent multiple principals if there is no conflict of interest. However, it is important for the agent to disclose any potential conflicts and obtain the informed consent of all parties involved.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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