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Agency Relationship
An arrangement where one party, the agent, acts on behalf of another, the principal, in dealings with third parties.
Lawful Purpose
A requirement that the objective or reason behind a contract or agreement must be legal and not against public policy for it to be enforceable.
Power Of Attorney
A specific type of express authority that grants an agent specific powers.
Incompetent Principal
A legal term referring to a person who lacks the capacity to engage in a contract or manage their own affairs due to mental disability, illness, or minority.
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