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123 Insurance (Issue 8) Definition of An Agent

Tags: agent

An Agent is one who acts on behalf of another. The 'another' on whose behalf the agent acts, is called the principal. This is the simple definition. The lawyer is the Agent of the client, when he argues the case in court. An ambassador is an agent of his country. It is function, which determines the relationship of agency, not the designation.

According to Section 182 of the Indian Contracts Act, an 'agent' is a person employed to do any act for another or to represent another in dealing with a third person.



This post first appeared on 123 Insurance - Simplifying Life Insurance Advisor, please read the originial post: here

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123 Insurance (Issue 8) Definition of An Agent

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