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  2. Agency is the legal relationship that exists between a principal and a person appointed with the power to act on their behalf and has the power to legally bind a principal to arrangements. The key concept that underpins the law of agency is authority, for only if there is a grant of power will the relationship exits.
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  3. People also ask
    What is a law of agency?The law of agency refers to a common commercial relationship. Like we mentioned above, it involves two parties: the principal and the agent. The agent represents the principal in their actions, conduct and dealings. So, they can enter into contracts and transactions on behalf of the principal.
    Who is an 'agent' in Australian law?The common law applied in Australian jurisdictions contains the broader concept of an ‘agent’, being a person with an authority or capacity to create or affect legal relations between a principal and third parties.
    agentlaw.co.uk
    What is an agency relationship in law?An agency relationship is a legal arrangement where one party (the agent) has the authority to act or represent another party (the principal). Here, the agent is an intermediary between the principal and third parties when undertaking specific tasks and duties. Does an agency relationship last indefinitely?
    What is an agency relationship in Australia?There is no legislation in Australia which provides an all-encompassing definition of the agency relationship. Rather, agency is a legal relationship defined primarily by the courts over several centuries (albeit with contributions from legislation, from time to time).
     
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