Definition - What does Agent mean?
An agent is a person who has been given the proper authority to act on behalf of another party, known as the principal. This agreement is often legally binding, and usually involves the principal giving instructions, or making orders which the agent then carries out. A wide variety of business fields and other areas have agents who work on behalf of principals.
Justipedia explains Agent
An example of an agent is a real estate agent. A real estate agent is someone who works on behalf of a real estate buyer, or a real estate seller. In the case of real estate agents, the principal would be the buyers and the sellers. Agents usually only have the legal authority to carry out the instructions of the principal. So, they can get into trouble if they make independent decisions. For example, if a real estate agent were to make a final decision about whether to buy or sell a home at a certain price without getting verification from the principal, then they could face legal consequences.
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