Question: What Is The Agent?

What is an example of an agent?

The definition of an agent is a person or group of people that represent another person or that takes action for other people.

Someone who schedules appearances for a musical group is an example of an agent.

One empowered to act for or represent another.

The noun John is the agent in the clause John threw the ball..

What are the duties of the 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.

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.

Who can be an agent?

As between the principal and third persons, any person may become an agent, but no person who is not of the age of majority and sound mind can become an agent, so as to be responsible to the principal according to the provisions in that behalf herein contained.

What is a payment agent?

Paying agents are usually a corporate trust department of a bank or trust company that are designated to make dividend, coupon, and principal payments to a security holder on behalf of the issuer. When paying agents are used for stocks—the agent receives dividends, which they then disburse to stockholders.

Who are called mercantile agent?

A mercantile agent is a person who is appointed by those in business to act on their behalf or to represent them in dealing with other persons. The person on whose behalf he acts as an agent is known as the ‘Principal’.

Whats is an agent?

An agent, in legal terminology, is a person who has been legally empowered to act on behalf of another person or an entity. An agent may be employed to represent a client in negotiations and other dealings with third parties.

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.

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.

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.

How is an agent appointed?

An agency is created by express appointment when the principal appoints the agent by express agreement with the agent. This express agreement may be an oral or written agreement between the principal and the agent. … The one exception is where an agent is appointed to execute a deed on behalf of the principal.

What is the agent in a sentence?

In contemporary English grammar, the agent is the noun phrase or pronoun that identifies the person or thing which initiates or performs an action in a sentence. Adjective: agentive. Also called actor. In a sentence in the active voice, the agent is usually (but not always) the subject (“Omar selected the winners”).

What are the kinds of agents?

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

What are the right and duties of agent?

Rights and Duties of Agent (Agency: Indian Contract Act,1872) Agent’s duty in conducting principal’s business (Section 211) : … Skill and diligence required from agent (Section 212) : … Duty to render proper accounts (Section 213) … Duty to communicate with principal (Section 214) : … Not to deal on his own Account : … Not to make Secret Profits.More items…

What is a universal agent?

Definitions of universal agent. noun. someone authorized to transact every kind of business for the principal. synonyms: general agent.

What does agent of action mean?

In intelligence usage, one who has access to, and performs actions against, the target.

What are the 5 duties of an agent?

Terms in this set (5)Performance. Doing the job using reasonable skill.Notification. Obligation to keep principal informed.Loyalty. Act solely for the interest of the principal.Obedience. Follow all lawful orders.Accounting. Don’t mix personal assets with property of principal.

What is agent and agency?

The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, that is authorized to act on behalf of another (called the principal) to create legal relations with a third party.