Definition of Agency:
Action or intervention, especially such as to produce a particular effect.
A business or organization established to provide a particular service, typically one that involves organizing transactions between two other parties.
Fiduciary relationship between two parties in which one (the agent) is under the control of (is obligated to) the other (the principal) . The agent is authorized by the principal to perform certain acts, for and on behalf of the principal. The principal is bound by the acts of the agent, performed in carrying out entrusted duties and within the scope of agents authority. An agency can be created by (1) express agreement, whether oral or written, (2) implication, based on the custom or practice of the trade, or (3) conduct of the principal. Under the legal doctrine of estoppel, the principal is prohibited from denying the existence of a properly constituted agency. Creation of agency is essential to commercial and financial transactions, because an organization (as a legal entity) can function only through its agents.
The office or function of an agent.
Synonyms of Agency
Business, Organization, Company, Firm, Office, Bureau, Concern, Service, Action, Activity, Agent, Agentship, Antecedent, Assignment, Atelier, Authority, Authorization, Barbershop, Barter, Bartering, Beauty parlor, Beauty shop, Bench, Brevet, Brokerage, Butcher shop, Buying and selling, Care, Cause, Change, Channel, Charge, Commission, Commissioning, Commitment, Commutation, Company, Concern, Conduct, Consignment, Corporation, Cure, Dealing, Delegated authority, Delegation, Deputation, Deputyship, Desk, Determinant, Device, Devolution, Devolvement, Direction, Displacement, Doing business, Driving, Embassy, Empowerment, Energy, Entrusting, Entrustment, Errand, Establishment, Exchange, Execution, Executorship, Exequatur, Exercise, Expedient, Facility, Factorship, Firm, Force, Full power, Functioning, Gear, Give-and-take, Going between, Handling, Horse trading, House, Installation, Institution, Instrumentality, Instrumentation, Intercession, Interchange, Intermediation, Intervention, Jobbing, Jurisdiction, Legation, License, Lieutenancy, Loft, Machinery, Management, Mandate, Manipulation, Means, Mechanism, Mediation, Medium, Merchandising, Ministry, Mission, Occupation, Office, Operancy, Operation, Organ, Organization, Parlor, Performance, Performing, Plenipotentiary power, Power, Power of attorney, Power to act, Practice, Procuration, Proxy, Purview, Quid pro quo, Recourse, Regency, Regentship, Replacement, Representation, Resort, Responsibility, Retailing, Running, Service, Shop, Steering, Studio, Subrogation, Substitution, Supersedence, Superseding, Supersedure, Supersession, Supplantation, Supplanting, Supplantment, Swapping, Sweatshop, Switch, Task, Tit for tat, Trade, Trading, Trafficking, Trust, Trusteeship, Vehicle, Vicarious authority, Vicariousness, Warrant, Wheeling and dealing, Wholesaling, Work, Work site, Work space, Workbench, Workhouse, Working, Working space, Workings, Workplace, Workroom, Workshop, Worktable, Action, Activity, Effect, Influence, Force, Power, Work
How to use Agency in a sentence?
- If you are starting a business it is important that it passes all government agency guidelines so that you dont get in trouble.
- Some businesses may hire an agency to check up on them from time to time to make sure everything is going smoothly.
- An advertising agency.
- The United States Ambassador, with the agency granted to him by the President, was allowed to discuss modifications to the deal with the foreign country, but he could not actually make those modifications without approval.
- Canals carved by the agency of running water.
Meaning of Agency & Agency Definition