There are different types of agents based on the nature and scope of their authority and the relationship they have with the principal. Some of the common types of agents include:
- Universal agent: This type of agent has the authority to act on behalf of the principal in all matters, similar to a power of attorney.
- General agent: This type of agent has the authority to act on behalf of the principal in a specific area or business, such as a sales agent for a company.
- Special agent: This type of agent has limited authority to act on behalf of the principal for a specific transaction or purpose, such as a real estate agent for the sale of a property.
- Sub-agent: This type of agent is appointed by the agent to perform specific tasks or responsibilities under the authority of the original agent.
- Co-agent: This type of agent is appointed jointly with another agent to perform specific tasks or responsibilities on behalf of the principal.
- Gratuitous agent: This type of agent acts on behalf of the principal without receiving any compensation or consideration.
- Agency coupled with an interest: This type of agency arises when the agent has a personal interest in the subject matter of the agency, such as a security interest or lien.
