Final answer:
Agency can be implied or expressed depending on the situation. Implied agency refers to the authority given through unspoken actions, while expressed agency is when the authority is explicitly stated or agreed upon through a contract or agreement.
Step-by-step explanation:
Agency can be implied or expressed depending on the situation. Implied agency refers to the authority given to an agent through unspoken actions or conduct. For example, if someone consistently acts on behalf of another person and is recognized as their representative, it implies an agency relationship.
On the other hand, expressed agency is when the authority is explicitly stated or agreed upon through a contract or agreement. This could be seen in a power of attorney document, where a person is appointed as an agent to make legal decisions on behalf of someone else.
Both implied and expressed agency can be legally binding, but expressed agency provides clearer evidence of the agent's authority and obligations.