Express Agency definition

Express Agency. A consensual relationship created by contract or by law where one party, the principal, grants authority for another party, the agent, to act on behalf of and under the control of the principal to deal with third party. An agency relationship is fiduciary in nature, and the actions and words of an agent exchanged with a third party bind the principal.
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Express Agency. One can enter into the contract of agency through an express agreement, i.e. oral or written. In a written contract of agency, the power of attorney is transferred in the name of the agent, conferring him the authority and power to act on behalf of the principal, subject to the terms and conditions specified in the contract. When the purpose of creation of agency is to transfer the immovable property, it is required to be registered,
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Examples of Express Agency in a sentence

  • The Agency Contract could be established either by Express Agency (expressly created) or Implied Agency (arising from the conduct of parties).1 Agency contract should include names and particulars of agent and other key parties; the extent of the agent's responsibilities, potential recourse to breaches of contractual terms, termination or cancellation of the agreement, etc.

  • That a “coordination” of operations and services of the Union Pacific Railroad Company and the Railway Express Agency, Inc., within the meaning “Agreement of May, 1936, Washington, D.

  • The ITC includes a passenger station building, freight building, and a Railroad Express Agency (REA) building.

  • In the event that Agency desires any of its parents, subsidiaries or other affiliates ("Affiliate") to render services to American Express, Agency first shall cause said Affiliate to execute either a separate Agency Agreement with American Express or the Affiliate Agreement attached hereto as Exhibit 6.