Whois & Analysis for propertycasualty360.com

Casualty insurance is a problematically defined term which broadly encompasses insurance not directly concerned with life insurance, health insurance, or property insurance.

In the abstract, property is that which belongs to or with something, whether as an attribute or as a component of said thing.

In the context of this article, property is one or more components (rather than attributes), whether physical or incorporeal, of a person's estate; or so belonging to, as in being owned by, a person or jointly a group of people or a legal entity like a corporation or even a society.

(Given such meaning, the word property is uncountable, and as such, is not described with an indefinite article or as plural) Depending on the nature of the property, an owner of property has the right to consume, alter, share, redefine, rent, mortgage, pawn, sell, exchange, transfer, give away or destroy it, or to exclude others from doing these things, as well as to perhaps abandon it; whereas regardless of the nature of the property, the owner thereof has the right to properly use it (as a durable, mean or factor, or whatever), or at the very least exclusively keep it.

The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, that is authorized to act on behalf of another (called the principal) to create legal relations with a third party.

Succinctly, it may be referred to as the equal relationship between a principal and an agent whereby the principal, expressly or implicitly, authorizes the agent to work under his or her control and on his or her behalf.

The agent is, thus, required to negotiate on behalf of the principal or bring him or her and third parties into contractual relationship.

This branch of law separates and regulates the relationships between:

A sale is the exchange of a commodity or money as the price of a good or a service.

Sales (plural only) is activity related to selling or the amount of goods or services sold in a given time period.

A broker is an individual person who arranges transactions between a buyer and a seller for a commission when the deal is executed.

A broker who also acts as a seller or as a buyer becomes a party to the deal.

Neither role should be confused with that of an agent—one who acts on behalf of a principal party in a deal.