Chapter

The Law of Agency

Kent Greenawalt

in Legal Interpretation

Published in print November 2010 | ISBN: 9780199756131
Published online January 2011 | e-ISBN: 9780199855292 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199756131.003.0007
The Law of Agency

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This chapter examines the law of agency. The law of agency deals with circumstances of the sort explored with respect to informal instructions. Although the law's practical relevance mainly concerns when principals are liable to third parties with whom agents have interacted, it does set standards for how agents should understand instructions in light of the interests of principals. Agents must interpret instructions in light of what they convey about the principals' wishes; and agents may disregard the import of specific instructions if they are confident the principals would wish them to do so. The law of agency also establishes the relevance of reasonable but mistaken understandings on the part of agents and third parties.

Keywords: law of agency; interpretation; informal instructions; agents; third parties

Chapter.  6926 words. 

Subjects: Jurisprudence and Philosophy of Law

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