general agent
Definition
Noun: 1. An insurance salesperson: A person or company authorized to sell insurance policies on behalf of an insurance company. 2. A broadly authorized representative: A person granted the authority to conduct all types of business for the person or entity they represent (the principal).
Usage Examples
- Insurance context:
- We purchased our home insurance through a general agent who represents several major companies.
- As a general agent, her job is to find the best policy for her clients' needs.
- Business/legal context:
- The CEO appointed her as a general agent, giving her the power to sign contracts and make financial decisions on the company's behalf.
- A general agent has broader authority than a special agent, who is limited to a specific task.
Advanced Usage
- Legal Distinction: In law, a "general agent" is contrasted with a "special agent." A general agent has continuous authority to act in a broad range of matters, while a special agent is authorized for a single transaction or a limited scope of duties.
- Scope of Authority: The precise powers of a general agent are defined by an agreement with the principal. A third party can usually assume the general agent has the authority to perform acts common to the role.
Variants and Related Words
- Agency (n): The relationship where a general agent acts for a principal.
- He works for the firm in an agency capacity.
- Special Agent (n): An agent with limited, specific authority.
- A special agent was hired to negotiate the one-time deal.
Synonyms
- Insurance agent: (Specifically for the insurance meaning)
- Universal agent: (Emphasizes the broad, all-encompassing authority)
- Representative: (A more general term)
Related Phrases
- Fiduciary duty: A legal obligation of a general agent to act in the principal's best interest.
- The general agent has a fiduciary duty to the principal.
- Act within the scope of authority: To perform only those actions the principal has permitted.
- The contract was void because the general agent did not act within the scope of authority.
Noun
-
an agent who sells insurance
-
someone authorized to transact every kind of business for the principal
Khám phá thêm
Các từ liên quan
Từ đồng nghĩa
Từ trái nghĩa
