Which type of authority is specifically granted in an agent’s contract?

Express authority refers to the specific powers and responsibilities that an agent is granted explicitly within their contract. This type of authority is clearly outlined in the contract, detailing the scope of the agent's powers to act on behalf of the principal. When an agent enters into a contract, the terms and provisions laid out provide a clear directive regarding what actions the agent is authorized to take.

For instance, if a real estate agent's contract specifies that they can negotiate sales and manage listing agreements, this clearly defines their express authority. Such authority contrasts with other types, like implied authority, which may not be specifically detailed but can be inferred from the actions and conduct of the agent. Contractual authority is not commonly referenced in these contexts, as it often encompasses various types of authority derived from agreements. Fiduciary authority involves the responsibility an agent has toward the principal, emphasizing loyalty and care rather than specific contractual powers.