agent
Definition
An agent is a person or company you authorize to act on your behalf and make decisions that legally bind you. When an agent signs a contract or makes a deal, it is as if you did it yourself.
Example
If you hire a real estate broker to negotiate the purchase of a building for your business, that broker is acting as your agent and their agreements can obligate you legally.
Watch Out
Be careful about who you give this authority to, because you can be held responsible for mistakes or bad deals your agent makes while acting on your behalf.
See which terms appear in your contract?
This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.