On 2/10/2010 5:28 PM, Alexander Terekhov wrote:
actiontec.com is NOT verizon.net
"Rjack" wrote: Agency is an area of commercial law dealing with a
contractual or quasi-contractual tripartite, or non-contractual set
of relationships when an agent is authorized to act on behalf of
another (called the Principal) to create a legal relationship with a
Third Party.[1] Succinctly, it may be referred to as the relationship
between a principal and an agent whereby the principal, expressly or
impliedly, authorizes the agent to work under his control and on his
behalf. The agent is, thus, required to negotiate on behalf of the
principal or bring him and third parties into contractual
relationship. This branch of law separates and regulates the
relationships between: * Agents and Principals; * Agents and the
Third Parties with whom they deal on their Principals' behalf; and *
Principals and the Third Parties when the Agents purport to deal on
their behalf.
For a technical legal deconstruction see the American Law Institutes'
"Restatement of the Law (Third), Agency".