- A person who uses an agent for his or her negotiations with a third party, often with the agent seeming to be acting for himself or herself. This means that in a dispute, the third party may not know who the real principal is.
Business law dictionary. 2015.
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undisclosed principal — a person of whose existence a third party is unaware so that the third party does not know that the person with whom he is dealing is an agent. So far as he is concerned, the agent is really a principal dealing on his own behalf and in his own… … Law dictionary
Undisclosed principal — In the field of law, the term undisclosed principal relates mainly to the liability of an agent for obligations incurred on behalf of a principal. If the agent does not disclose the nature of his agency (the fact that he acts on behalf of… … Wikipedia
undisclosed principal — A person who buys or sells through an agent or broker and remains anonymous. The agent or broker must disclose when dealing on behalf of an undisclosed principal; failure to do so may result in the agent being treated in law as the principal and… … Big dictionary of business and management
undisclosed principal — A principal whose identify is unknown to a third person who deals with his agent, knowing that the latter is acting for some principal. The principal in an undisclosed agency. 3 Am J2d Agency § 307. See undisclosed agency … Ballentine's law dictionary
undisclosed principal — A principal whose identity is unknown by a third person, and the third person has no knowledge that the agent is acting in an agency capacity at the time the contract is made. See also principal … Black's law dictionary
principal — prin·ci·pal 1 / prin sə pəl/ adj 1: being the main or most important, consequential, or influential their principal place of business the principal obligor 2: of, relating to, or constituting principal or a principal the principal amount of the… … Law dictionary
undisclosed — I adjective concealed, covert, hidden, invisible, latent, mysterious, occult, sealed, secret, suppressed, tacit, ulterior, unaired, unannounced, unapparent, unbreathed, uncommunicated, unconveyed, undeclared, undetected, undivuiged, unexplained,… … Law dictionary
Principal (commercial law) — In commercial law, a principal is a person ndash;legal or natural ndash;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… … Wikipedia
principal — adj Chief; leading; most important or considerable; primary; original. Highest in rank, authority, character, importance, or degree. As to principal challenge principal contract principal obligation principal office principal vein, see those… … Black's law dictionary
undisclosed factoring — A form of factoring in which the seller of goods does not wish to disclose the use made of a factor. In these circumstances, the factor buys the goods that have been sold (rather than the debt their sale incurred) and, as an undisclosed principal … Big dictionary of business and management