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Agency Law - US. 1  Agency Law - Wikipedia The law of agency is an area of commercial law dealing with a contractual or quasi-contractual, or non-contractual set of relationships when an agent is authorized to act on behalf of another (called the Principal) to create a legal relationship with a Third Party.
A legal system is a framework of rules and institutions within a society that regulates the society. These rules and institutions organise and regulate the activities between individuals and the activities of the state and its relationship with individuals. See Image 1. Australia has a federal system of government.