Agency Law - Agent Law
Agency Law - US
- Agency Law - Definition
The law of agency is an area of commercial law dealing with a contractual or quasi-contractual, or non-contractual set of relationships when an agent is authorized to act on behalf of another (called the Principal) to create a legal relationship with a Third Party. Succinctly, it may be referred to as the relationship between a principal and an agent whereby the principal, expressly or impliedly, authorizes the agent to work under his control and on his behalf.
- Agency Relationships with Organizations Representing Federal Employees and Other Organizations
The regulations in this part apply to all Federal executive branch departments and agencies and their officers and employees.
- Agency Rules, Opinions, Orders, Records, and Proceedings
For purposes of this section - the term ''agency'' means any agency, as defined in section 552(e)  of this title, headed by a collegial body composed of two or more individual members, a majority of whom are appointed to such position by the President with the advice and consent of the Senate, and any subdivision thereof authorized to act on behalf of the agency.
- Duties of Agents and Principals
An agent who is acting without any form of payment must show the same standard of care as if he/she was dealing with their own affairs. That is, the agent must exercise reasonable care and skill in the matter. If the agent is being paid then the standard of diligence expected is even higher.
- Foreign Agents Registration Act (FARA)
The Foreign Agents Registration Act (FARA) was enacted in 1938. FARA is a disclosure statute that requires persons acting as agents of foreign principals in a political or quasi-political capacity to make periodic public disclosure of their relationship with the foreign principal, as well as activities, receipts and disbursements in support of those activities. Disclosure of the required information facilitates evaluation by the government and the American people of the statements and activities of such persons in light of their function as foreign agents. The FARA Registration Unit of the Counterespionage Section (CES) in the National Security Division (NSD) is responsible for the administration and enforcement of the Act.
- Law of Agency - Overview
Under the law of agency, if a person is injured in a traffic accident with a delivery truck, the truck driver's employer may be liable to the injured person even if the employer was not directly responsible for the accident. That is because the employer and the driver are in a relationship known as principal-agent, in which the driver, as the agent, is authorized to act on behalf of the employer, who is the principal.
- Responsibility of Principal for Act or Omission of Agent
When construing and enforcing the provisions of this chapter, the act, omission, or failure of any agent, officer, or other person acting for or employed by any packer, any swine contractor, and any live poultry dealer, stockyard owner, market agency, or dealer, within the scope of his employment or office, shall in every case also be deemed the act, omission, or failure of such packer, any swine contractor, and any live poultry dealer, stockyard owner, market agency, or dealer, as well as that of such agent, officer, or other person.
- Uniform Power of Attorney Act - Standards for Agent Conduct and Liability
The catalyst for the Uniform Power of Attorney Act (the “Act”) was a national review of state power of attorney legislation. The review revealed growing divergence among states’ statutory treatment of powers of attorney. The original Uniform Durable Power of Attorney Act (“Original Act”), last amended in 1987, was at one time followed by all but a few jurisdictions. Despite initial uniformity, the review found that a majority of states had enacted non-uniform provisions to deal with specific matters upon which the Original Act is silent. The topics about which there was increasing divergence included: 1) the authority of multiple agents; 2) the authority of a later-appointed fiduciary or guardian; 3) the impact of dissolution or annulment of the principal’s marriage to the agent; 4) activation of contingent powers; 5) the authority to make gifts; and 6) standards for agent conduct and liability.
Organizations Related to Agency Law
- Agents, Distributors And Joint Ventures
There are many means and methods of doing business abroad. Most people who do business abroad or who are considering expanding into the international arena are familiar with the terms "agent", "distributor" and "joint venture". Many business people, however, may not realize that the meanings of these terms vary from country to country and their use in international business usually have distinct legal consequences. Therefore, it is essential for those who do business abroad to have a general understanding of the differences in the relationships that these terms describe. It is even more important, however, to investigate and understand the precise legal consequences of a particular type of business relationship in a given jurisdiction before entering into any agreements, verbal or written.
- Commercial Law League of America (CLLA)
The Commercial Law League of America is a respected organization of attorneys and other experts in credit and finance actively engaged in the field of commercial law, bankruptcy and insolvency. Since 1895, The CLLA has been associated with the representation of creditor interests, while at the same time seeking fair, equitable and efficient administration of bankruptcy cases for all parties in interest.
- DOJ - Office of Information Policy (OIP)
The Office of Information Policy (OIP) is responsible for encouraging agency compliance with the Freedom of Information Act (FOIA). OIP develops and provides guidance to agencies on questions relating to application of the FOIA. It publishes the Department of Justice Freedom of Information Act Guide, which is a comprehensive treatise addressing all aspects of the FOIA, as well as FOIA Post, which is an online newsletter addressing FOIA issues of current interest. OIP regularly conducts a variety of training programs for FOIA personnel across the government including specialized agency programs.
Articles on HG.org Related to Agency Law
- Commercial Agency Agreement Under the New Turkish Trade CodeJournal of the Justice Academy of Turkey, vol. 5, 2011, p. 419-450, (Peer Reviewed)
- Singapore Business Law - Checklist for a Distributor AgreementBusiness expansion comes in many different forms. One of the most common methods of used by the small businesses in Singapore to expand their business is to expand their distribution channels by the appointment of distributors. This Distributorship Agreement Checklist will ensure that you address all of the major issues in agreements with your appointed distributor.
- Singapore Business Law - Letters of Intent and What They AchieveBusiness owners generally assume that a Letter of Intent made precursory to a contract would be legally binding and entitle you to legal remedies if the other party reneges on the deal. This article explains why this is often not the case. Hey What Happened? Didn’t We Sign the Memorandum of Understanding?
- Liaison Office Regulation Amended in TurkeyThe Regulation governing the liaison office opening procedures in Turkey was recently amended. This article discusses the main changes brought about by the amended Regulation. In accordance with Turkish law, establishment by a foreign company of a liaison office in Turkey is governed by the Law No. 4875 on Foreign Direct Investments (the Law).
- Commercial Agents and Agency Contracts under the new Turkish Commercial CodeThe new Turkish Commercial Code will enter into force as of July 01, 2012. Although the provisions regarding the commercial agents are in parallel with the current Turkish Commercial Code in general, the new Turkish Commercial Code has introduced some important novelties in order to harmonize the agency provisions with the Council Directive 86/653/EEC.
- Distributorship AgreementsA distributorship agreement is one that is made between the supplier and distributor of goods. The relationship is different in nature to other possible models of supply such as agency or franchise.
- Agency AgreementsIn 2006 a tennis tournament sponsor sued Venus and Serena Williams for non-attendance at their event. The sponsor claimed that the tennis stars were obliged to attend by virtue of a commitment to that effect made by their father. The case rested upon whether the girls’ father had authority to bind them contractually.
- Agents - Term “Agent” or “Agency” in CyprusThe term “agent” or “agency” must be used with particular caution in Cyprus as the law attaches a special significance to an agency relationship. In some cases the term “agency” will be used in commerce where in fact, legally speaking, there is no such relationship and similarly, in some cases where common commercial jargon refers to something other than agency, in fact (legally speaking) an agency relationship can be said to exist.
- Distribution Contracts in Dominican RepublicThe legislation of the Dominican Republic contains an estatute that protects the agent or local distributor in his relationships with the foreign licensor. In fact, the Law 173, of 1966, de Protección a los Agentes Importadores de Mercaderías contains several dispositions that shall be noted when doing bussiness in Dominican Republic, some of them are the followings:
- Foreign Invested Travel Consulting Company: A Way to Promote Outbound TourismWith the promulgation of the Regulation on Travel Agencies as of February 20, 2009 (“Regulation”), China has opened its doors to the foreign investors in the tourism business. However, the door of outbound tourism business is still firmly closed to the foreign investors. This Article will discuss the way to promote outbound tourism by setting up foreign invested travel consulting company in China.
- All Business and Industry Law Articles
Articles written by attorneys and experts worldwide discussing legal aspects related to Business and Industry including: agency and distributorship, agency law, business and industry, business formation, business law, commercial law, contracts, corporate governance, corporate law, e-commerce, food and beverages law, franchising, industrial and manufacturing, joint ventures, legal economics, marketing law, mergers and acquisitions, offshore services, privatization law, retail, shareholders rights and utilities.