Which of the following are essential elements of an agency relationship?

In the context of an agency relationship, the essential elements are consent, control, and a fiduciary duty.

Consent signifies that both the principal and the agent agree to enter into the agency relationship. This mutual consent establishes the groundwork for the authority the agent will have to act on behalf of the principal.

Control refers to the principal's ability to direct and oversee the actions of the agent within the scope of their delegated authority. This element underscores the principal's role as the party that retains the ultimate decision-making power while allowing the agent to perform actions on their behalf.

Fiduciary duty is a critical aspect that involves the obligation of the agent to act in the best interests of the principal. This responsibility ensures that the agent must prioritize the principal’s needs and maintain loyalty, care, and good faith in all dealings related to the agency.

These three elements—consent, control, and fiduciary duty—combine to create a legal framework that defines the relationship and the responsibilities of each party involved.