(a) Agents are broadly classified under the following:

• Universal agents – are agents with unrestricted authority to contract on behalf of their principal. These categories of agents are not common and have to be appointed by deed and in the form of power of attorney.
• General agents – have the authority to act for their principals in all matters connected with a particular trade or business. A general agent has implied power to bind his principal in all matters of ordinary business in the enterprise of the relationship.
• Special agents – are appointed to act in respect of a particular transaction or a series of transactions and usually have only limited powers or authority.

(b) Agency is terminated by:

• Agreement.
• Operation of law (death, insanity, insolvency).
• Termination by agreement:
  • By mutual agreement between the principal and the agent.
  • By notice of revocation given by the principal to the agent.
  • By notice of renunciation given by the agent to the principal.
  • Breach of Duty.
  • Novation.
• Termination by operation of law:
  • The principal or agent dies.
  • The principal or agent becomes insane.
  • The principal becomes bankrupt, or the agent becomes bankrupt, and this interferes with their position as agent.
  • By completion of assigned duty.
  • By the expiration of the period stipulated in the contract of agency.
  • By subsequent illegality.

(c) Rights of an agent:

• Right to remuneration or commission.
• Right to indemnity.
• Right to exercise a lien.