Legal Definitions - co-agent

Definition: A co-agent is a person who shares the authority to act for a principal with another agent. It is also known as a dual agent.

Example: Two real estate agents may be appointed as co-agents to sell a property. They share the responsibility of finding a buyer and negotiating the sale on behalf of the principal.

Explanation: In this example, both agents have equal authority to act on behalf of the principal. They share the responsibility of finding a buyer and negotiating the sale. This means that either agent can make decisions and take actions that bind the principal.