Principal (commercial law)
Person who authorizes an agent to create legal relationships with a third party / From Wikipedia, the free encyclopedia
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For other uses, see Principal (disambiguation).
In commercial law, a principal is a person, legal or natural, who authorizes an agent to act to create one or more legal relationships with a third party. This branch of law is called agency and relies on the common law proposition qui facit per alium, facit per se (from Latin: "he who acts through another, acts personally").
The examples and perspective in this article may not represent a worldwide view of the subject. (October 2010) |
It is a parallel concept to vicarious liability (in which one person is held liable for the acts or omissions of another) in criminal law or torts.