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In commercial law, a principal is a person, legal or natural, who authorizes an agent to act to create one or more legal relationships with a third party.This branch of law is called agency and relies on the common law proposition qui facit per alium, facit per se (from Latin: "he who acts through another, acts personally").
Principal (commercial law), the person who authorizes an agent Principal (architecture), licensed professional(s) with ownership of the firm; Principal (criminal law), the primary actor in a criminal offense; Principal (Catholic Church), an honorific used in the See of Lisbon
Beneficial owner is subject to a state's statutory laws regulating interest or title transfer. [2] This often relates where the legal title owner has implied trustee duties to the beneficial owner. [clarification needed] A common example of a beneficial owner is the real or true owner of funds held by a nominee bank.
A business owner often relies on an employee or another person to conduct a business. In the case of a corporation, since a corporation can only act through natural person agents, the principal is bound by the contract entered into by the agent, so long as the agent performs within the scope of the agency.
A beneficial shareholder is the person or legal entity that has the economic benefit of ownership of the shares, while a nominee shareholder is the person or entity that is on the corporation's register of members as the owner while being in reality that person acts for the benefit or at the direction of the beneficial owner, whether disclosed or not.
In many Australian and New Zealand schools, a principal is the head administrator of a school who has been appointed to her/his position by the school board, superintendent, or other body. The principal, often in conjunction with the school board, makes the executive decisions that govern the school, as well as having the authority over the ...
Principal Financial Group, Inc. (PFG) is an American global financial investment management and insurance company headquartered in Des Moines, Iowa, United States. History [ edit ]
The labor theory of property, also called the labor theory of appropriation, labor theory of ownership, labor theory of entitlement, and principle of first appropriation, is a theory of natural law that holds that property originally comes about by the exertion of labor upon natural resources.