Agency es

Agency refers to the relationship where one person or organization, called the agent, is authorized to act on behalf of another, known as the principal. This relationship allows the agent to make decisions, enter into contracts, or perform tasks that legally bind the principal. Common examples include a real estate agent representing a property seller or an attorney acting on a client's behalf. Agency is based on mutual agreement, either written or implied, and the principal remains responsible for the agent’s actions within their scope of authority.