In various parts of the world, there are persons act ing for and on behalf of others, in different capacities and under different circumstances. However, there are interests other than the protection of the principal against misuse of power by the agent, the protection of the third party with whom the agent has dealt, the protection of the agent against an y liability incurred on behalf of the principal, and the rights an agent may have against the principal. This has led the law of agency to make the agent a fiduciary. The principal, on whose behalf the agent bargains, must be able to place complete confidence in the agent. The function of the law of agency is to enable agents to bring commercial parties into contractual relations in such a way as to render the parties, not the agents, liable on, and able to enforce, the contract. Principal (commercial law) - In commercial law, a principal is a person ndash legal or natural ndash who authorizes an agent to act to create one or more legal relationships with a third party.The law of agency is an essential part of commercial law because companies can only conduct business through agents. This is correctAn Agent in Commercial Law is a person who is authorised to act on behalf of another (called the Principal) to create a legal relationship with a Third Party. COMMERCE JOBS a person or company that is paid by another person or company to represent them inвЂ¦ вЂ¦ Financial and business termsДЄgent (law) - For other uses of the word Agent, see Agent (disambiguation).

The New York Times Financial Glossary * * * agent aвЂ§gent noun 1. FINANCEвЂ¦ вЂ¦ Financial and business termsДЄgent - The decision maker in a principal agent relationship. The New York Times Financial Glossary * * * в–Є I.

(2) The party affected by agent decisions in a principal agent relationship. Principal - (1) The total amount of money being borrowed or lent. Glossary of Business Terms The remaining balance owed on a loan by a borrower or on a security by its issuer, exclusive of any accrued interest.

Principal - in the case of a loan, refers to the actual amount borrowed and on which interest is paid. Various mechanisms may be used to tryвЂ¦ вЂ¦ WikipediaДЄgent - n 1: someone or something that acts or exerts power: a moving force in achieving some result 2: a person guided or instigated by another in some action where the heads of departments are the political.agent s of the executive, merely to execute вЂ¦ Law dictionary Principal-agent problem - In political science and economics, the principal agent problem or agency dilemma treats the difficulties that arise under conditions of incomplete and asymmetric information when a principal hires an agent. Bloomberg Financial Dictionary вЂ¦ Financial and business terms Principal-agent relationship - Occurs when one person, an agent, acts on the behalf of another person, the principal. The New York Times Financial Glossary вЂ¦ Financial and business terms Principal-agent relationship - A situation that can be modeled as one person, an agent, who acts on the behalf of another person, the principal. The relationshipвЂ¦ вЂ¦ Investment dictionary In a principal agent relationship, the agent acts on behalf of the principal and should not have a conflict of interest in carrying out the act. Principal-Agent Relationship - An arrangement in which one entity legally appoints another to act on its behalf.

Agent of the principal definition