What are the classification of agents?

There are 3 classes of agents: General agent, Special agent and Mercantile agent.

What are the 4 types of agents?

The Four Main Types of Agent
  • Artists’ agents. An artist’s agent handles the business side of an artist’s life. …
  • Sales agents. …
  • Distributors. …
  • Licensing agents.

What are 3 types of agents?

In general, there are three types of agents: universal agents, general agents, and special agents.

What are the 5 types of agents?

The five types of agents include: general agent, special agent, subagent, agency coupled with an interest, and servant (or employee).

What is agent and types of agent?

Agents can be grouped into five classes based on their degree of perceived intelligence and capability : Simple Reflex Agents. Model-Based Reflex Agents. Goal-Based Agents. Utility-Based Agents.

What is an agent in law?

An agent is a person authorized to act on behalf of another person. The party an agent is authorized to act for is known as the principal. A principal-agent relationship can either be intentionally created or created by implication through one’s actions. For further information, see Agency Law.

What are examples of agents?

Examples of agents are sales representatives and shipping agents. Another example is someone who enters into negotiations on behalf of a client.

What are the functions of agent?

The duties of an agent are as follows:
  • Duty to execute a mandate.
  • Duty to follow instructions or customs.
  • Duty of reasonable care and skill.
  • Duty to avoid conflict of interest.
  • Duty not to make a secret profit.
  • Duty to remit sums.
  • Duty to maintain accounts.
  • Duty not to delegate.

What are examples of agents?

Examples of agents are sales representatives and shipping agents. Another example is someone who enters into negotiations on behalf of a client.

What are the 5 duties of an agent?

DUTIES OF AGENT
  • Duties to follow Instructions or Customs:
  • Duty of reasonable care and skill.
  • DUTY TO AVOID CONFLICT OF INTEREST.
  • Duty not to make secret profit:
  • Duty to remit sums.
  • Duty to maintain Accounts:
  • Duty not to delegate.

Who is called an agent?

Definition. A person who performs services for another person under an express or implied agreement and who is subject to the other’s control or right to control the manner and means of performing the services. The other person is called a principal. One may be an agent without receiving compensation for services.

What is agency and types?

agency, in law, the relationship that exists when one person or party (the principal) engages another (the agent) to act for him—e.g., to do his work, to sell his goods, to manage his business. The law of agency thus governs the legal relationship in which the agent deals with a third party on behalf of the principal.

What are the rights of agents?

There are several rights and duties that an agent has. Some of the rights are- right to remuneration, right to indemnity, right of retainer, right to lien, and right to compensation.

What does agent mean in law?

An agent is a person authorized to act on behalf of another person. The party an agent is authorized to act for is known as the principal. A principal-agent relationship can either be intentionally created or created by implication through one’s actions. For further information, see Agency Law.