Right and duties of Principal

Briefly discuss the rights and duties of principal and agent in agency contract.

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Briefly discuss the rights and duties of principal and agent in agency contract.

An agency contract creates a relationship where one person (the agent) acts on behalf of another person (the principal). Both the principal and the agent have certain rights and duties. Here’s an explanation in simple terms: Duties of Principal 1. Pay the Agent:The principal must pay the agent the agreed salary, commission, or fees for … Read more

Agency – Law

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Agency - Law

A legal arrangement known as Agency occurs when one party, referred to as the principal, gives another party, referred to as the agent, permission to act on their behalf in order to establish legal relationships with third parties. Under this arrangement, the agent can act as the principal’s representative in a variety of situations, including … Read more