What type of agent is authorized to perform a single act under agency law?

What type of agent is authorized to perform a single act under agency law?

• A. General Agent
• B. Special Agent
• C. Universal Agent
• D. Designated Agent

Answer: (B)

A special agent is authorized to perform a single act or a specific task on behalf of a principal. This type of agent has limited authority, usually confined to a particular transaction or duty, rather than ongoing responsibilities. For example, a real estate agent hired to sell a specific property acts as a special agent for the seller, meaning their authority is limited to that sale. Once the task is completed, the agency relationship typically ends. In contrast, a general agent has broader authority and can handle multiple transactions or ongoing responsibilities for the principal, such as a property manager who oversees all aspects of managing a property. A universal agent possesses extensive authority and can act on behalf of the principal in all matters, which is much more comprehensive than the role of a special agent. A designated agent, often found in real estate practices, represents a specific party within a transaction but does not operate under the limited scope characteristic of a special agent.

A special agent is authorized to perform a single act or a specific task on behalf of a principal. This type of agent has limited authority, usually confined to a particular transaction or duty, rather than ongoing responsibilities. For example, a real estate agent hired to sell a specific property acts as a special agent for the seller, meaning their authority is limited to that sale. Once the task is completed, the agency relationship typically ends.

In contrast, a general agent has broader authority and can handle multiple transactions or ongoing responsibilities for the principal, such as a property manager who oversees all aspects of managing a property. A universal agent possesses extensive authority and can act on behalf of the principal in all matters, which is much more comprehensive than the role of a special agent. A designated agent, often found in real estate practices, represents a specific party within a transaction but does not operate under the limited scope characteristic of a special agent.