When one or more people hire another person to perform a service and then delegate decision-making authority to that agent, then they are said to be in:

Question

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An agency relationship is formed when one person (the principal) hires another person (the agent) to act on their behalf and delegates decision-making authority to that agent. The agent is expected to act in the best interest of the principal and make decisions that serve their goals. This type of relationship is common in business and legal settings, where a company may hire a lawyer or accountant to act as their agent in certain matters.

When One or More People Hire Another Person to Perform