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agency |
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agencyIn law, a relationship in which one party (the agent) acts on behalf of and under the control of another (the principal) in dealing with third parties. It has its roots in ancient servant-master relations. Agency becomes a legal issue when the agent injures or wrongs a third party. In Anglo-American law, principals are bound by and liable for the acts of such agents as stockbrokers, business agents, contractors, real-estate agents, lawyers, union representatives, managing partners, and private detectives. See also regulatory agency. agency 1. a business or other organization providing a specific service 2. the place where an agent conducts business 3. the business, duties, or functions of an agent 4. one of the administrative organizations of a government How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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