Appointed agent Definition: 120 Samples | Law Insider (2024)

FAQs

Appointed agent Definition: 120 Samples | Law Insider? ›

Appointed agent means a licensee appointed by a designated broker of the licensee's real estate brokerage firm to act solely for a client of that brokerage firm to the exclusion of other licensees of that brokerage firm.

Appointing an Agent does not take any power away from the principal, but the Agent acts when the principal is either unavailable or unable to act. Most commonly, the Agent acts when the principal is unable to act, either because of illness or infirmity.

Appointment of agent means a statement appointing an agent for service of process filed by a domestic entity that is not a filing entity or a nonqualified foreign entity under section 10-01.1-12.

An agent is a person authorized to act on behalf of another person. The party an agent is authorized to act for is known as the principal. A principal-agent relationship can either be intentionally created or created by implication through one's actions. For further information, see Agency Law.

With the reference of contract Act 1950, there are 5 ways that may arise an agency, which are, by express appointment by the principal, by implied appointment by the principal, by ratification by the principal, by necessity and by the doctrine of estoppels/holding out.

Law. to designate (a person) to take the benefit of an estate created by a deed or will. to provide with what is necessary; equip; furnish: They appointed the house with all the latest devices. Archaic. to order or establish by decree or command; ordain; constitute: laws appointed by God.

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.

This form is used to appoint someone to act as an agent to pick up your social welfare payments. Application Form: Authority to Appoint an Agent (other than HSE) Form to appoint an agent to pick up certain social welfare payments on your behalf.

A principal appoints an agent to act on their behalf and in their best interest. Examples include an investor picking a fund manager or someone hiring an attorney for legal work.

An agent, having an authority to do an act, has authority to do every lawful thing which is necessary in order to do such act. An agent having an authority to carry on a business, has authority to do every lawful thing necessary for the purpose, or usually done in the course, of conducting such business.

What is the concept of agent in law? ›

( ACT NO. IX OF 1872 )

182. An "agent" is a person employed to do any act for another or to represent another in dealings with third persons. The person for whom such act is done, or who is so represented, is called the "principal".

: one who is authorized to act for or in the place of another: such as. a. : a representative, emissary, or official of a government. crown agent.

The agent owes the principal two categories of duties: fiduciary and general. The fiduciary duty is the duty to act always in the interest of the principal; the duty here includes that to avoid self-dealing and to preserve confidential information.

Designated agents (also called appointed agents) are chosen by a managing broker to act as an exclusive agent of the seller or buyer. This allows the brokerage to avoid problems arising from dual-agency relationships for licensees at the brokerage.

To carry out her duties, an agent will often need to appoint her own agents. These appointments may or may not be authorized by the principal.

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.

The exercise of a right to designate the person or persons who are to take the use of real estate.

1. : chosen for a particular job. an appointed official. 2. : officially fixed or set.

Appointed means any person who is appointed (usually by the board or council) to fill an elective office or interim office position.

To be appointed is to be given a task or job. If you're appointed as the week's doughnut fetcher at work, it means you've been assigned the job of bringing treats for everyone. You might be appointed for a small duty or for a large promotion, as when the gym teacher at school is unexpectedly appointed principal.