Examlex
The Uniform Electronic Transactions Act,in effect in all of the states,covers contracts not governed by Articles 2 and 2A.
Principal
The amount of money originally invested or loaned, upon which interest is calculated, or in agency relationships, the person who empowers an agent to act on their behalf.
Gratuitous Agent
An agent who acts on behalf of another without receiving any compensation for their services.
Paid Agent
A professional or entity compensated to act on behalf of another in a transaction or negotiation.
Principal's Relationship
A legal concept that describes the relationship between a principal (one who grants authority) and an agent (one who acts on the principal's behalf).
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