Agency

{
  "id": "MLC-T-LAW-000435",
  "term": "Agency",
  "field": "Law",
  "definition": "A fiduciary relationship created when one person, the principal, consents to have another person, the agent, act on their behalf and subject to their control. In the context of elder law, this relationship is frequently established through a durable power of attorney, allowing an agent to manage financial or healthcare decisions if the principal becomes incapacitated. The agent has a duty to act loyally and in the best interests of the principal.",
  "url": "https://mlchart.com/terminology/law/agency/"
}