An agency is defined as a contract, either express or implied, by which one of the parties confides to the other the management of some business, to be transacted in his name, or on his account, by which that other assumes to do the business, and to render an account of it[i].
Express Agency express agency see agency. Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.
Express agency is created by either an oral or a written agreement between the principal and the agent. It indicates their express intent for this representational status. In real estate, agency is normally created by either a written listing agreement with a seller or a buyer agency agreement with a buyer.
When the agency is not express, it may be inferred from the relation of the parties and the nature of the employment without any proof of any express appointment. The agency must be antecedently given, or subsequently adopted; and in the latter case there must be an act of recognition, or an acquiescence in the act of the agent, from which a ...
An agency relationship can be either express or implied. Agency is created by implication when, from the nature of the principal’s business and the position of the agent within that business, the agent is deemed to have permission from the principal to undertake certain acts.
AGENCY, contracts. An agreement, express, or implied, by which one of the parties, called the principal, confides to the other, denominated the agent, the management of some business; to be transacted in his name, or on his account, and by which the agent assumes to do the business and to render an account of it.
With that said, it is obviously much easier to define and then enforce an express contract, particularly one that is in writing, as opposed to an implied contract. More on Express Contracts. Express contracts are probably the ones we most commonly think of. An example of an express contract may be if you hire a website designer to design your ...
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