TeachMeFinance.com - explain General agent
General agent -- A person appointed to act for another in
all his affairs or in all affairs of a particular class.
General agent -- A general agent is one who has authority conferred upon him to do anything which comes within the limits of the position in which he has been placed by his principal. In this way a general agent occupies a position which is intermediate between that of a special agent, whose duties are strictly limited, and a universal agent, whose duties are altogether unlimited. An example of a general agent is that of a person who is placed in management of a house of business, when he has an implied authority to bind his principal by doing anything which comes within the ordinary scope of the business.
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