Agent

Business, Legal & Accounting Glossary

Definition: Agent


Quick Summary of Agent


An agent is a person appointed by another person, known as the principle, to act on his or her behalf.



What is the dictionary definition of Agent?

Dictionary Definition


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.

  1. One who exerts power, or has the power to act; an actor.
  2. One who acts for, or in the place of, another (the principal), by authority from him; one entrusted with the business of another; a substitute; a deputy; a factor.

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).


Full Definition of Agent


In business, an agent is a representative who acts on behalf of other persons or organisations.

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:

  1. they act on behalf of and are subject to the control of the principal;
  2. they do not have title to the principal’s property;
  3. they owe their duty of allegiance to the principal’s orders.

Examples of Agent in a sentence


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.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/agent/
Modern Language Association (MLA):
Agent. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. November 26, 2020 https://payrollheaven.com/define/agent/.
Chicago Manual of Style (CMS):
Agent. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/agent/ (accessed: November 26, 2020).
American Psychological Association (APA):
Agent. PayrollHeaven.com. Retrieved November 26, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/agent/

Definition Sources


Definitions for Agent are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 22nd April, 2020 | 13 Views.