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  2. Agency law is the common law doctrine controlling relationships between agents and principals. A principal-agent relationship is created when the agent is given authority to act for the principal.
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    What is agency law?Agency law is the common law doctrine controlling relationships between agents and principals. A principal-agent relationship is created when the agent is given authority to act for the principal.
    How is agency law governed?Agency law is primarily governed by the Common law and to a lesser extent by statutory instruments. In 1986, the European Communities enacted Directive 86/653/EEC on self-employed commercial agents. In the UK, this was implemented into national law in the Commercial Agents Regulations 1993.
    How does the law of agency affect a contract?The law of agency thus governs the legal relationship in which the agent deals with a third party on behalf of the principal. The competent agent is legally capable of acting for this principal vis-à-vis the third party. Hence, the process of concluding a contract through an agent involves a twofold relationship.
    What is agent law?Agency law allows an individual to employ another to acquire property, carry out work, and sell goods and services on his/her behalf. A principal can authorize the agent to carry out various functions or restrict the agent to the performance of specific functions.
     
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