Business, Legal & Accounting Glossary
An agent is a person appointed by another person, known as the principle, to act on his or her behalf.
A person authorized to act for and under the direction of another person when dealing with third parties. The person who appoints an agent is called the principal. An agent can enter into binding agreements on the principal’s behalf and may even create liability for the principal if the agent causes harm while carrying out his or her duties.
A person appointed by another person, known as the principle, to act on his or her behalf. Company Directors are agents of the shareholders (the principal).
One who is authorized to represent and act on behalf of another person or business (called the PRINCIPAL) in transactions involving a third party. Unlike an employee who merely works for the principal, an agent works in place of the principal.
Agents have three basic characteristics:
A commercial agent manages the business affairs of company.
An estate agent is a person who buys and sells buildings and land for others.
Our agent has informed us that you still owe us the sum of £5469.
In the instance, you can purchase it directly, rather than through an agent.
Our agent in Paris deals with all European sales.
Paul takes several phone calls from his agent.
Which party will agent the deal?
A VAT-registered landlord may employ a managing agent to handle the collection of rent and to manage the maintenance of the property.
JC Watts acts as an agent for the sales department.
The agent put me on hold whilst she discussed the matter with her colleagues.
Progress should be carefully monitored, once a suitable agent has been found.
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This glossary post was last updated: 22nd April, 2020 | 16 Views.