Principal (commercial law)  From Wikipedia, the free
encyclopedia Jump to: navigation, search     In a busy
commercial world, the smooth flow of trade depends on the use of
agents. This may be because in business entities such as:    •
sole traders, their ability to conduct business will always be
limited unless other people are used to work on their behalf;
• a partnership, the natural persons who are involved cannot be
present to conduct business in multiple locations
simultaneously, so they must rely on others to make agreements
or deliver services on their behalf; or   • a corporation is
only a legal entity or fictitious legal person and so can only
act through the agency of human beings to get anything done.  In
the majority of cases, it is impossible for agents to seek
specific authority for every deal or detail within a deal.
Agents must, of necessity, be allowed some degree of discretion
in the conduct of routine transactions. But, for the purposes of
ascribing legal responsibility to the Principal,