Business Law: The Principal-Agent Relationship. People, especially business
owners, routinely hire or designate other people to perform tasks on their behalf.
It is mandatory for an agency agreement to be consensual however the failure to
make contractual agreement does nothing to the agency relationship [ Saeley, ...
May 1, 2018 ... Contracts in agency relationships are considered to be legally binding if they
prove to express authority or implied authority terms. See more.
An agency relationship is defined [by Ohio's courts] as “a consensual fiduciary
relationship between two persons where the agent has the power to bind the ...
If you are a small-business owner and have to hire the services of a contractor or
an outside expert, you enter a principal-agent relationship. Trust is the main ...
