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Agency Relationship
A relationship in which one party (the agent) agrees to act for or on behalf of another party (the principal), typically in business transactions.
Operation Of Law
The automatic application of law to certain actions and circumstances without the need for an agreement or court action.
Agency Relationship
An agency relationship is a legal arrangement in which one party, the agent, is authorized to act on behalf of another party, the principal, in business transactions.
Power Given As Security
Refers to a legal arrangement where authority or control over assets is given to someone as a form of security for a debt or obligation.
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