Question: Principal

Answer: In an agency relationship, the person from whom an agent is acting

Question: Agent

Answer: In an agency relationship, the person who is acting on behalf of a principal

Question: Fiduciary relationship

Answer: The trustee must act in the best interests of the beneficiary

Question: Equal dignities rule

Answer: If an agent is empowered to enter into a contract that must be in writing, then the appointment of the agent must also be written

Question: Gratuitous agent

Answer: Someone not paid for performing duties