When parties form an agency relationship through a written or an oral agreement, this is known as an **express agency**.

Express agency is established when both parties explicitly agree to the terms of the agency relationship. This agreement can be either in writing or verbally communicated, outlining the extent of the agent's authority to act on behalf of the principal. This relationship is significant in various legal and business contexts, as it lays out the responsibilities and rights of both the principal and the agent.

It's important to note that express agency must be distinguished from implied agency, where the agency relationship is established through the actions of the parties rather than a direct agreement, and from ratified agency, which occurs when a principal accepts the actions of an agent after the fact. Understanding these distinctions helps clarify the nature and scope of authority an agent may have when acting on behalf of a principal.

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When parties form an agency relationship through a written or an oral agreement, this is known as an **express agency**.

Express agency is established when both parties explicitly agree to the terms of the agency relationship. This agreement can be either in writing or verbally communicated, outlining the extent of the agent's authority to act on behalf of the principal. This relationship is significant in various legal and business contexts, as it lays out the responsibilities and rights of both the principal and the agent.

It's important to note that express agency must be distinguished from implied agency, where the agency relationship is established through the actions of the parties rather than a direct agreement, and from ratified agency, which occurs when a principal accepts the actions of an agent after the fact. Understanding these distinctions helps clarify the nature and scope of authority an agent may have when acting on behalf of a principal.

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When parties form an agency relationship through a written or an oral agreement, this is known as an **express agency**.

Express agency is established when both parties explicitly agree to the terms of the agency relationship. This agreement can be either in writing or verbally communicated, outlining the extent of the agent's authority to act on behalf of the principal. This relationship is significant in various legal and business contexts, as it lays out the responsibilities and rights of both the principal and the agent.

It's important to note that express agency must be distinguished from implied agency, where the agency relationship is established through the actions of the parties rather than a direct agreement, and from ratified agency, which occurs when a principal accepts the actions of an agent after the fact. Understanding these distinctions helps clarify the nature and scope of authority an agent may have when acting on behalf of a principal.

When parties form an agency relationship through a written or an oral agreement, this is known as an Blank______ agency.

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When parties form an agency relationship through a written or an oral agreement, this is known as an Blank______ agency.

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