Question: Who Is Included In The Definition Of An Agent?

What is a secret agent?

A secret agent is a person who is employed by a government to find out the secrets of other governments.

Synonyms: spy, undercover agent, spook [US, Canadian, informal], nark [British, Australian, New Zealand, slang] More Synonyms of secret agent..

How do you explain a real estate agent?

Agency Relationships The relationship that exists between the principal and the agent representing them is called agency. In seller agency, the agent represents the seller in a real estate transaction, while in buyer agency, the agent represents the buyer.

Who can act as an agent?

According to section 184 as between the principal and third persons, any person (whether he has contractual capacity or not) may become an agent. Thus, a minor or a person of unsound mind can also become an agent.

What are the 4 types of agents?

There are four main categories of agent, although you are unlikely to need the services of all of them:Artists’ agents. An artist’s agent handles the business side of an artist’s life. … Sales agents. … Distributors. … Licensing agents.

What are the elements of an agency relationship?

agent; the person for whom the agent is acting is the principal. Parsing this definition reveals three primary elements of an agency relationship: (1) consent by the principal and the agent; (2) action by the agent on behalf of the principal; and (3) control by the principal.

Which type of agent is most common in real estate?

A real estate broker or salesperson operates as a special agent which is the type of agent that is most common for a real estate salesperson or broker to be. The special agent is one who is only granted limited authority to act on behalf of the principal.

What are the kinds of agent?

There are five types of agents.General Agent. The general agent. … Special Agent. … Agency Coupled with an Interest. … Subagent. … Servant. … Independent Contractor.

Which is an example of a general agency relationship?

Example: A property manager is a general agent since the relationship between the principal and agent is continuous and all the actions completed are related to managing property.

What is another name for agent?

Agent Synonyms – WordHippo Thesaurus….What is another word for agent?representativedelegateenvoyfactoremissarynegotiatorproxyrepbrokerdeputy212 more rows

What is a natural agent?

The Natural Agent is an advertising agency that specialises in both print and digital media. Through strategic planning alongside creative ingenuity and implementation, we provide our clients with a resourceful means to promote their brands and stand out among their competition.

What is special about a universal agent?

Many times, universal agents will have a “power of attorney” to act on their principal’s behalf. Universal agents can, in a sense, act like they are the principal. They can even sign legal documents and purchase or sell property for them. Universal agents are powerful but rare.

What is an example of a universal agent?

For example, A property manager, acts as a general agent if authorized to show and rent apartments, supervise maintenance, do the bookkeeping, etc.

What is Agent example?

An agent is defined as someone or something that makes something happen. A bee taking pollen from flower to flower is an example of the bee being an agent for pollination. … Someone who schedules appearances for a musical group is an example of an agent.

What is agent and its types?

Agents can be grouped into four classes based on their degree of perceived intelligence and capability : Simple Reflex Agents. Model-Based Reflex Agents. Goal-Based Agents. Utility-Based Agents.

Is a real estate agent a special agent?

An agent authorized to perform a single transaction on behalf of a client. For example, a real estate agent is usually a special agent. … Once the client buys or sells a property, the special agent ceases to have a legal relationship with that client.

Who is included in the definition of an agent quizlet?

Agent. an individual who represents a broker-dealer or an issuer in securities. Only an individual or natural person can be an agent. Not included as definition of an agent. clerical and administrative employee of a broker-dealer.

What is the definition of the word agent?

noun. a person who acts on behalf of another person, group, business, government, etc; representative. a person or thing that acts or has the power to act. a phenomenon, substance, or organism that exerts some force or effecta chemical agent.

What are the rights of agent?

Generally, an agent has a right to be reimbursed by his principal for all expenses and to be indemnified against all losses and liabilities incurred by him in the performance of his duties to the principal. … If the act of the agent is unauthorised and the same is not subsequently ratified by the principal; ii.

What are the duties of an agent?

DUTIES OF AGENTDuties to follow Instructions or Customs:Duty of reasonable care and skill.DUTY TO AVOID CONFLICT OF INTEREST.Duty not to make secret profit:Duty to remit sums.Duty to maintain Accounts:Duty not to delegate.