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Definition

Agent

Agent is a wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods. There are four types:

  1. Manufacturers’ agents
  2. Selling agents
  3. Purchasing agents

      4. Commission merchants

(According to military dictionary, agent— in intelligence usage, one who is authorized or instructed to obtain or to assist in obtaining information for intelligence or counterintelligence purposes.)


Agent refers who is authorized to transact business and exercise authority on behalf of another party.


Agent  is an intermediary representing either the buyer or the seller, not taking title to the goods, and making a commission for work completed.

Agent refers to a military service or agency thereof which, under the Defense Materiel Utilization Program, provides supplies to another military service or agency.


 Agent is someone who legally represents the insurer, has the authority to act on the insurer’s behalf, and can bind the insurer (principal) by expressed authority, by implied authority, and by apparent authority.

Webster Dictionary Meaning

1. Agent
- Acting; -- opposed to patient, or sustaining, action.
2. Agent
- One who exerts power, or has the power to act; an actor.
- One who acts for, or in the place of, another, by authority from him; one intrusted with the business of another; a substitute; a deputy; a factor.
- An active power or cause; that which has the power to produce an effect; as, a physical, chemical, or medicinal agent; as, heat is a powerful agent.
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