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Law of Agency:
The Law of Agency is a set of rules that explain how people called agents can act on behalf of others, known as principals, and what they're supposed to do for the people they help, called customers. These rules make sure everyone involved knows their jobs and acts the right way.
For example, imagine Sarah wants to buy a house but doesn't have time to look for one. She hires Bob, a real estate agent, to find her dream home. In this situation, Sarah is the principal and Bob is the agent. The Law of Agency says Bob must do his best to find a house Sarah will love, and both Bob and Sarah have to treat each other fairly and honestly.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
In a land where houses sit so snug,
Sarah seeks a home, a place to unplug.
She finds Bob the agent, who's happy to roam,
To help Sarah find her perfect home.
The Law of Agency guides their quest,
To ensure both Sarah and Bob do their best.
With roles and duties, it makes them aware,
The standards of conduct, they both must take care.
Bob seeks the houses, both large and small,
While Sarah awaits, in hopes of a call.
Together they work, under the law's watchful eye,
To find Sarah's dream home, under the big blue sky.