General remarks on Agency in Civil and Commercial Law
General remarks on Agency in Civil and Commercial Law

Author(s): Irina Bogdanova
Contributor(s): Savina Mihaylova-Goleminova (Editor)
Subject(s): Law, Constitution, Jurisprudence, Civil Law, Commercial Law
Published by: Сиела Норма АД
Keywords: agency; voluntary representation; letter of attorney; self-contracting; misrepresentation; ratification
Summary/Abstract: This chapter aims to present the main features of agency as a legal mechanism and the ‘authority’ of one person – the representative – to affect the principal’s legal position. After a brief historical review, the term of ‘agency’ is defined as the ability of one person to perform legal acts on behalf of another person with a direct effect on the represented person, i.e., the principal. The topic of representative authority and the different types of agency is addressed, with a particular focus on voluntary representation and the legal effects of the power of attorney. Additionally, the issues that arise from self-contracting, acting to the detriment of the principal, and delegation of authority are also discussed.

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