Which type of agent has the most limited authority in a transaction?

Which type of agent has the most limited authority in a transaction?

• A. General
• B. Special
• C. Universal
• D. Limited

Answer: (B)

A special agent possesses the most limited authority in a transaction. This type of agent is typically appointed to perform a specific task or represent a principal for a particular transaction, such as the sale of a property. Their authority is restricted to that particular transaction or task and does not extend beyond it. In contrast, a general agent has broader authority to act on behalf of the principal in a variety of transactions or matters, while a universal agent holds expansive power to act on behalf of the principal in all matters. The term "limited" could refer to specific limitations in duties or authority, but it does not accurately capture the specific designation of agent types like "special agent" does. Thus, the definition and scope of authority associated with a special agent clearly mark it as the type with the most limited authority in a transaction.

A special agent possesses the most limited authority in a transaction. This type of agent is typically appointed to perform a specific task or represent a principal for a particular transaction, such as the sale of a property. Their authority is restricted to that particular transaction or task and does not extend beyond it.

In contrast, a general agent has broader authority to act on behalf of the principal in a variety of transactions or matters, while a universal agent holds expansive power to act on behalf of the principal in all matters. The term "limited" could refer to specific limitations in duties or authority, but it does not accurately capture the specific designation of agent types like "special agent" does. Thus, the definition and scope of authority associated with a special agent clearly mark it as the type with the most limited authority in a transaction.