How Many Kinds of Agents in a Contract of Agency

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    When it comes to legal agreements, understanding the various terms and components included is crucial. One important agreement that businesses and individuals may come across is a contract of agency. Simply put, a contract of agency is an agreement by which one party (the agent) agrees to act on behalf of another party (the principal). But what many people don`t know is that there are different kinds of agents that can be appointed in this type of contract. Let`s take a closer look at the various types of agents in a contract of agency.

    1. General Agent

    A general agent is someone who is authorized by the principal to act on their behalf for a specific purpose or within a certain scope of authority. This type of agent has broad powers to act on behalf of the principal. For example, a real estate agent may be appointed as a general agent to sell a property on behalf of the owner.

    2. Special Agent

    A special agent, on the other hand, is someone who is appointed for a specific task or purpose. This type of agent has limited powers to act on behalf of the principal and can only act within the scope of their authority. For instance, a lawyer may be appointed as a special agent to represent a client in a specific case.

    3. Universal Agent

    A universal agent is someone who has complete authority to act on behalf of the principal in all matters. This type of agent has the broadest powers to act on behalf of the principal. However, universal agents are not commonly appointed in contracts of agency.

    4. Sub-Agent

    A sub-agent is someone appointed by an agent to carry out a specific task or obligation. This type of agent can act on behalf of the agent, but not on behalf of the principal. For example, a real estate agent may appoint a sub-agent to show properties to potential buyers.

    5. Co-Agent

    A co-agent is someone appointed jointly with another agent to carry out a specific task or obligation. This type of agent has equal powers to act on behalf of the principal, alongside the other agent. For instance, two lawyers may be appointed as co-agents to represent a client in a case.

    In conclusion, having a clear understanding of the various types of agents in a contract of agency is important to ensure that the agreement is properly structured and executed. By knowing the different types of agents, principals can appoint the appropriate type of agent for their specific needs and agents can act within the scope of their authority with clarity and confidence.