The major parties to an agency relationship are the?

The major parties to an agency relationship are the principal and the agent. An agency relationship is a legal arrangement where one party, the principal, hires another party, the agent, to act on their behalf in making transactions with third parties. The agent is authorized to perform certain acts on behalf of the principal and is expected to act in the best interests of the principal. The principal is the person or entity that hires the agent and gives them the authority to act on their behalf. The principal may be an individual, a company, or a government agency. The agent, on the other hand, is the person who is authorized to act on behalf of the principal. The agent may be an individual or a company, and they may be compensated for their services through a commission or other forms of payment. In contrast, a bailee and a bailor have a different type of relationship where the bailee is entrusted with the possession of the bailor's property for a specific purpose, and the shareholder and creditor relationship is based on ownership and debt, respectively, rather than on agency. Therefore, the correct answer is that the major parties to an agency relationship are the principal and the agent.