Running head: AGENCY1AgencyNameInstitution AffiliationAGENCY2Signing an agreement document that shows that an individual has allowed an agent to actin his name is a very critical part of the agency agreement. The two parties involved in theagency agreement legally sign the document thus giving out a legal authority to the agent.Expressed authority is one where the principle grants an authority to the agent through the wordof mouth. The agent is therefore given a set forth in the principles contract. An example is acontract between a tenant and a landlord.The second authority implied authority; this is where the agent is given the authority toact in the agency by the principle through a written form. In this type of authority both theprinciple and the agent sign this same document. This document contains all the rules andregulations that govern this contract which an agent signs after reading and agreeing with them.The agent is required to transact in accordance with all the business requirements. For examplewhen an individual signs and agrees to have a house with a real estate company he gets thisauthority.Apparent authority is the third type of authority. ...
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