Restatement of the Law, Third, Agency

The Restatement of the Law, Third, Agency is a legal framework that clarifies the principles governing agency relationships, where one party (the agent) acts on behalf of another (the principal). It outlines the rights, duties, and liabilities of both agents and principals, emphasizing mutual consent and the importance of authority. This guide helps to standardize and inform legal interpretations regarding agency, making it easier to understand how such relationships function in various contexts, including business and personal transactions. It serves as a reference for courts, lawyers, and others involved in legal matters.