-
Bitcoin $83,564.8027
0.44% - Ethereum
$1,810.7231
0.31% - Tether USDt
$0.9997
0.00% - XRP
$2.1326
3.18% - BNB
$594.5748
-0.23% - Solana
$120.9049
3.56% - USDC
$1.0000
0.00% - Dogecoin
$0.1690
2.41% - Cardano
$0.6572
0.50% - TRON
$0.2369
-0.45% - UNUS SED LEO
$9.2222
-3.86% - Chainlink
$12.8516
-0.47% - Toncoin
$3.3188
-5.38% - Stellar
$0.2575
-1.32% - Avalanche
$18.1451
-1.64% - Shiba Inu
$0.0...01233
1.07% - Sui
$2.2317
0.36% - Hedera
$0.1629
0.47% - Litecoin
$84.0375
0.19% - Polkadot
$4.0061
-0.88% - MANTRA
$6.2948
-0.41% - Bitcoin Cash
$300.7192
-2.60% - Bitget Token
$4.5155
0.53% - Dai
$1.0000
0.00% - Ethena USDe
$0.9991
-0.05% - Monero
$217.8207
1.01% - Hyperliquid
$11.7620
1.59% - Uniswap
$5.8772
-0.87% - Pi
$0.4630
-16.70% - OKB
$51.3227
9.10%
What Is an Agent?
Agents play a crucial role in business and legal transactions by representing principals and facilitating dealings with third parties.
Oct 17, 2024 at 03:54 am
What Is an Agent?
1. Definition:
An agent is an entity that acts on behalf of another entity, called the principal, with the principal's authority.
2. Types of Agents:
- Actual agents: Have express or implied authority to act on behalf of the principal.
- Apparent agents: Appear to have authority to act on behalf of the principal, but do not actually have it.
- Subagents: Authorized by an actual agent to act on behalf of the principal.
3. Characteristics of Agents:
- Legal capacity: Agents must be legally competent to enter into contracts.
- Authority: Agents derive their authority from the principal.
- Fiduciary duty: Agents have a duty to act in the best interests of their principals.
- Accountability: Agents are responsible for their actions to the principal.
4. Principal-Agent Relationship:
- Created by an agency contract, which defines the agent's duties and authority.
- The principal retains ultimate control over the agency relationship.
- The agent represents the principal in dealings with third parties.
5. Rights and Responsibilities of Agents:
Rights:
- To receive compensation
- To be reimbursed for expenses
- To obtain indemnification from the principal
Responsibilities:
- To act in accordance with the principal's instructions
- To exercise due care and diligence
- To keep the principal informed
- To account for their actions
6. Termination of Agency:
- By mutual agreement
- By operation of law (e.g., principal's death, agent's incapacity)
- By act of one party (e.g., revocation by principal, resignation by agent)
7. Significance of Agents:
- Facilitate transactions between parties
- Allow principals to delegate tasks
- Provide flexibility and specialization in business and legal matters
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
- Avalanche (AVAX) Saw a Significant Surge in Stablecoin Supply Over the Past Year
- 2025-04-05 14:20:12
- A RARE 50p coin has just sold for over 240 times its face value – and you might have one without even knowing
- 2025-04-05 14:20:12
- Raydium (RAY) Price Could Explode 2x Soon : Analyst Reveals the Critical Trigger
- 2025-04-05 14:15:12
- Yeti Ouro (YETIO) Gains Investor Interest By Delivering Innovative Play-to-Earn (P2E) Model
- 2025-04-05 14:15:12
- VanEck Takes a Significant Step Into the Cryptocurrency Space by Registering a Trust Company in Delaware for a BNB-Linked ETF
- 2025-04-05 14:10:15
- Pi Network (PI) Price Continues Its Downward Slide, Dropping Another 4% to Fall Below $0.70
- 2025-04-05 14:10:15
Related knowledge
Why is the oracle called the bridge between blockchain and the real world?
Apr 04,2025 at 04:00am
The concept of an oracle in the cryptocurrency and blockchain world is crucial for understanding how these decentralized systems interact with external data. The oracle is often referred to as the bridge between blockchain and the real world because it serves as a vital intermediary that fetches, verifies, and transmits off-chain data to the on-chain en...
What is the Byzantine Generals Problem? How does blockchain solve this problem?
Apr 05,2025 at 06:29am
The Byzantine Generals Problem is a classic problem in the field of distributed computing and computer science, which has significant implications for the reliability and security of decentralized systems, including blockchain technology. This problem is named after a hypothetical scenario involving several generals of the Byzantine army who must coordi...
What role does the Merkle tree play in the blockchain? Why can it verify data integrity?
Apr 04,2025 at 01:29pm
The Merkle tree plays a crucial role in the blockchain, primarily due to its ability to efficiently and securely verify data integrity. This article will delve into the structure of a Merkle tree, its implementation in blockchain, and how it ensures the integrity of data. Understanding the Structure of a Merkle TreeA Merkle tree, also known as a hash tr...
What is the difference between Layer1 and Layer2 expansion solutions? What are their advantages and disadvantages?
Apr 05,2025 at 12:49pm
In the world of cryptocurrencies and blockchain technology, scalability is a critical issue that developers and users alike grapple with. To address this, the industry has developed various solutions, primarily categorized into Layer1 and Layer2 expansion solutions. Understanding the differences between these two approaches, along with their respective ...
What is the difference between public chain, consortium chain and private chain? What scenarios are suitable for each?
Apr 04,2025 at 09:21pm
In the world of blockchain technology, understanding the differences between public chains, consortium chains, and private chains is crucial for selecting the right type of blockchain for specific applications. Each type of blockchain has its own unique characteristics and use cases, which we will explore in detail. Understanding Public ChainsPublic cha...
What is the double-spending problem? How does blockchain solve this problem?
Apr 04,2025 at 09:07am
The double-spending problem is a significant challenge in the realm of digital currencies. Double-spending refers to the potential for a digital currency to be spent more than once. This issue arises because digital files, unlike physical cash, can be easily duplicated. If not addressed, double-spending could undermine the integrity and trust in any dig...
Why is the oracle called the bridge between blockchain and the real world?
Apr 04,2025 at 04:00am
The concept of an oracle in the cryptocurrency and blockchain world is crucial for understanding how these decentralized systems interact with external data. The oracle is often referred to as the bridge between blockchain and the real world because it serves as a vital intermediary that fetches, verifies, and transmits off-chain data to the on-chain en...
What is the Byzantine Generals Problem? How does blockchain solve this problem?
Apr 05,2025 at 06:29am
The Byzantine Generals Problem is a classic problem in the field of distributed computing and computer science, which has significant implications for the reliability and security of decentralized systems, including blockchain technology. This problem is named after a hypothetical scenario involving several generals of the Byzantine army who must coordi...
What role does the Merkle tree play in the blockchain? Why can it verify data integrity?
Apr 04,2025 at 01:29pm
The Merkle tree plays a crucial role in the blockchain, primarily due to its ability to efficiently and securely verify data integrity. This article will delve into the structure of a Merkle tree, its implementation in blockchain, and how it ensures the integrity of data. Understanding the Structure of a Merkle TreeA Merkle tree, also known as a hash tr...
What is the difference between Layer1 and Layer2 expansion solutions? What are their advantages and disadvantages?
Apr 05,2025 at 12:49pm
In the world of cryptocurrencies and blockchain technology, scalability is a critical issue that developers and users alike grapple with. To address this, the industry has developed various solutions, primarily categorized into Layer1 and Layer2 expansion solutions. Understanding the differences between these two approaches, along with their respective ...
What is the difference between public chain, consortium chain and private chain? What scenarios are suitable for each?
Apr 04,2025 at 09:21pm
In the world of blockchain technology, understanding the differences between public chains, consortium chains, and private chains is crucial for selecting the right type of blockchain for specific applications. Each type of blockchain has its own unique characteristics and use cases, which we will explore in detail. Understanding Public ChainsPublic cha...
What is the double-spending problem? How does blockchain solve this problem?
Apr 04,2025 at 09:07am
The double-spending problem is a significant challenge in the realm of digital currencies. Double-spending refers to the potential for a digital currency to be spent more than once. This issue arises because digital files, unlike physical cash, can be easily duplicated. If not addressed, double-spending could undermine the integrity and trust in any dig...
See all articles
