Agency Coupled With Interest
Legal Definition and Related Resources of Agency Coupled With Interest
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Meanings, Synonyms, Etymology, Translations and More
Meaning of Agency Coupled With Interest
An agency is said to be coupled with an interest when the interest of the agent is a beneficial interest in the subject matter of the power given to him, apart from the proceeds of the subject matter, and such interest must be a specific, present and co-existing interest. See O'Connell v Superior Ct., 41 P.2d 334, 2 Cal.2d 418. Thus, a power of attorney given to a creditor as security to confess judgment on behalf of the debtor , is one that is coupled with an interest and therefore is not revocable. See Johnson v national Bank, 151 N.E.231, 320111.389.
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Agency Coupled With Interest in Historical Law
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Concept of Agency Coupled with Interest in the context of Real Property
A short definition of Agency Coupled with Interest: A contractual relationship with consideration going from agent to principal; the agency is given as return consideration. Example: A broker agrees to work to obtain property for a builder in return for a listing after the builder has completed the project. The broker would be entitled to (have an interest in) the listing (agency), provided the broker did obtain the property for the builder.
Concept of Agency Coupled with Interest in the context of Real Property
A short definition of Agency Coupled with Interest: A contractual relationship with consideration going from agent to principal; the agency is given as return consideration. Example: A broker agrees to work to obtain property for a builder in return for a listing after the builder has completed the project. The broker would be entitled to (have an interest in) the listing (agency), provided the broker did obtain the property for the builder.