Agency relationship



  • This question is asked by using more related personal examples.  
  • Discuss in detail how an agency relationship can be created?  Identify and describe the categories of authority by which an agency can bind a principal and a third party in contract.

Agency relationship is the main concept on which other business or other relationships are made,

such as partnerships, corporations, trusts, and the similar. There are four methods an agency

relationship can occur. Agency by deal, most agency relationships based on an express or

suggested deal, it can take way of an express written can also be taken in the shape

of an oral deal or even suggested by management.

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