Simple English definitions for legal terms
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Definition: A co-agent is a person who shares the authority to act for a principal with another agent. It is also known as a dual agent.
Example: Two real estate agents may be appointed as co-agents to sell a property. They share the responsibility of finding a buyer and negotiating the sale on behalf of the principal.
Explanation: In this example, both agents have equal authority to act on behalf of the principal. They share the responsibility of finding a buyer and negotiating the sale. This means that either agent can make decisions and take actions that bind the principal.