Agency refers to the legal relationship between a principal and an agent whereby the principal employs the agent to perform certain acts on their behalf. This relationship is founded on a contract that outlines the duties, responsibilities, and limits of authority delegated to the agent.
Revocation is the act of recalling or withdrawing a power of authority previously conferred, such as a power of attorney, license, agency, or other similar agreements. It is a fundamental legal concept that has considerable implications in real estate transactions and credentials.
