agency
factor
A factor is a cause or reason that contributes to a result.
A factor is also an agent hired to sell property on behalf of its owner.
The factor is given control and possession of the property from the start of the sale period until either the...
factor's lien
Factor’s lien is a type of security interest in property that allows agents and sometimes other parties to have their rights secured in property of a principal. This allows factors to recover owed fees and expenses from the secured property...
factoring
Factoring is a type of financing agreement where a creditor buys the rights to or the credit risk of a company’s accounts receivable. Instead of getting a loan from a bank, a company may sell their accounts receivable to a creditor for a fee...
Federal Trade Commission
The Federal Trade Commission (FTC) is an independent federal administrative agency, created by Congress in 1914 with the FTC Act. The FTC is composed of five Commissioners appointed by the President and confirmed by the Senate. Each...
fiduciary
A fiduciary, derived from the Latin term for “trust”, is a person owing a fiduciary duty to another. When someone has a fiduciary duty to someone else, the person with the duty must act in a way that will benefit someone else financially....
fiduciary duty
Overview
When someone has a fiduciary duty to someone else, the person with the duty must act in a way that will benefit someone else financially.
The person who has a fiduciary duty is called the fiduciary, and the person...
fiduciary relationship
A relationship in which one individual owes another a fiduciary duty to act in the other’s interest. Certain interactions may give rise to a fiduciary relationship, regardless of the parties’ intent. For example, Restatement Third of Agency § 8.01...
general power of attorney
General power of attorney is a form of power of attorney that allows agents to take any legal action their principals may take. For example, the agent could open or close bank accounts in the principal's name, invoke or waive the principal's...
implied
Circumstances, conduct, or statements which suggest the authority to act, warranty, promise, or consent, among other things (rather than stating directly) are considered to be implied.
For example, in agency law, “implied...
limited power of attorney
Limited power of attorney is one of three forms a power of attorney agreement can take, along with general and special. A power of attorney agreement authorizes one party–called the agent or attorney in fact–to act on behalf of the other...