Please Define the Following Key Terms

question 92

Essay

Please define the following key terms. Show Who? What? Where? When? Why Important?
-Taff Vale decision

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Definitions:

Principal

The initial amount of money invested or lent, excluding any interest or profit.

Agent

An individual authorized to act on behalf of another, known as the principal, in legal or business matters.

Specific Power of Attorney

A legal document that grants an agent the authority to act on behalf of the principal in specific matters or transactions.

Agency Agreement

A contract creating a fiduciary relationship whereby the first party consents that the actions of a second party bind them in relations with a third party.