Principal Party
/ˈprɪnsɪpəl ˈpɑːrti/
Definitions
- (n.) The primary person or entity with a direct interest or role in a legal transaction, obligation, or proceeding.
The principal party in the contract is responsible for fulfilling its terms.
- (n.) In agency law, the person who authorizes another (the agent) to act on their behalf.
The principal party delegated authority to the agent to negotiate the deal.
Forms
- principal parties
Related terms
See also
Commentary
In legal drafting, distinguishing the principal party from agents or third parties is essential to clarify rights and responsibilities.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.