As a copy editor who has worked with numerous clients in the legal industry, I understand the importance of having a valid agency agreement. An agency agreement is a contract between an agent and a principal, which outlines the scope of the agent`s authority to act on behalf of the principal. A well-drafted agency agreement can help to establish a clear understanding between the parties and prevent disputes down the line.
In this article, we will discuss the basic requirements for a valid agency agreement.
1. Offer and acceptance
The first requirement for a valid agency agreement is that there must be an offer and acceptance between the parties. This means that the principal must offer to hire the agent to act on their behalf, and the agent must accept the offer...
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