| A | B |
|---|
| Actual authority | the express and implied powers of an agent. |
| Agency by agreement | an agency relationship that is created by an oral or written contract between the agent and principal. |
| Agency by estoppel | an agency relationship that is created because the principal’s action caused a third party to believe that an agency relationship exists. |
| Agency by ratification | an agency relationship that is created because the principal approved of an agents unauthorized action after the action occurred. |
| Agency law | an area of law dealing with working relationships created between two parties. |
| Agent | is the individual employed by the principal to work with the third party. |
| Agent’s agent | an agent appointed by another agent without the knowledge or consent of the principal. |
| Apparent authority | occurs when the powers of the agent are created by law or circumstance. |
| Coagents | are two or more agents working together. |
| General agent | an agent that is given the authority to perform a variety of tasks. |
| Gratuitous agent | an agent that works for free. |
| Partially disclosed agent | an agent that is given the authority to work with a third party but forbidden to reveal the identity of the principal. |
| Principal | the individual who gives authority to the agent. |
| Special agent | an agent that is given the authority to perform specific tasks. |
| Subagent | an agent appointed by another agent with the knowledge and consent of the principal. |
| Third party | is the person or company whom the agent deals with on behalf of the principal. |
