50.05 Agent--Definition An agent is a person who, by agreement with another called the principal, represents the principal in dealings with third persons or transacts business, manages some affair or does some service for the principal, with or without compensation. The agreement may be oral or written, express or implied. [If you find that one person has the right to control the actions of another at a given time, you may find that the elation of principal and agent exists, even though the right to control may not have been exercised.]