Creation Of An Agency
The term contract can be defined as an agreement which is legally binding exists between two parties. This document provides the powers & duties to be performed by both the parties to the contract. An agreement can become a contract only when it satisfies the legal requirements. Hence the parties in this contract can enter into the contract either by themselves or through a third party. The concept of agency arises if the person enters into the contract through a third party. The third party here is called as the agent & the person on whose behalf he acts is known as the principal.
Administrative Agencies
An administrative agency is a government body which is given the authority to supervise and implement certain legislative acts. Apart from the term agency, they are also referred by the names corporations, commissions; departments etc. a group of experts in their respective fields together form the administrative agency. Majority of the administrative agencies that has an impact on day to day activities are independent agencies.
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