agency

Agency

Agency: An Overview

Agency law is concerned with any "principal"-"agent" relationship; a relationship in which one person has legal authority to act for another. Such relationships arise from explicit appointment, or by implication. The relationships...

Agency Shop

A place of employment in which full membership in a union is not required, but the union acts as an agent for the employees. Both union members and non-union members must pay periodic union dues and initiation fees whether they join or not since it is...

Agent

A person with authority to act on behalf of another person.

See Principal, Fiduciary, and Fiduciary duty.

Agent for Acceptance of Service

Definition

See: Agent for service of process

Agent for Service of Process

Definition

The person designated by a business entity, such as a corporation, to receive legal correspondence on behalf of the business entity within the state which the agent's address is located. The person may be an officer of the corporation or a...

Apparent Authority

Overview

Apparent authority is the power of an agent to act on behalf of a principal, even though not expressly or impliedly granted. This power arises only if a third party reasonably infers, from the principal's conduct, that the principal granted...

Arm's Length

Definition

Of or relating to transactions between two parties who are independent and do not have a close relationship with each other. Presumably, these parties have equal bargaining power and are not subject to undue pressure or influence from...

Attorney-in-fact

Definition

An agent authorized to act on behalf of another person, but not necessarily authorized to practice law, e.g. a person authorized to act by a power of attorney. An attorney in fact is a fiduciary. Also known as attorney in fact or private...

Authority

Authority is the official permission or right to act, often on behalf of another. Authority may also be a person or institution that has power over another person.

Authority as agency is the power to act on behalf of another...

Authorize

To authorize means to grant authority; to empower. It may also mean to formally or officially approve.

[Last updated in June of 2021 by the Wex Definitions Team]

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