Asked by
Jasmeet Bharj
on Dec 16, 2024
Verified
An agent cannot bind the principal in a contract with a third party unless there is an agency contract between the principal and the agent.
Agency Contract
A legal agreement wherein one party (the agent) agrees to act on behalf of another party (the principal) in a business transaction or other matter.
Third Party
An individual or group not directly involved in a contract or legal transaction but could be affected by its outcome.
- Understand the legal framework of agency agreements including conditions required for validity.
- Explore the roles and responsibilities of agents and principals in an agency relationship.
Verified Answer
JO
Learning Objectives
- Understand the legal framework of agency agreements including conditions required for validity.
- Explore the roles and responsibilities of agents and principals in an agency relationship.
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