Agent authority granted in a written contract is known as?

The correct answer is express authority, which refers to the specific powers granted to an agent through clear and explicit terms outlined in a written contract. When an agent is appointed or authorized to act on behalf of a principal, the express authority is explicitly stated in the agreement, delineating the scope of the agent's responsibilities and limitations. This form of authority is documented in writing, ensuring that all parties involved have a clear understanding of the agent's role and the extent to which they can act on the principal's behalf.

Implied authority, on the other hand, arises from the actions or circumstances surrounding the relationship and is not explicitly stated in the contract. It involves the agent being able to perform acts that are necessary to fulfill their express duties, even if those acts are not specifically mentioned.

Apparent authority occurs when a third party perceives that an agent has authority to act on behalf of a principal, based on the principal's conduct or representations, even if the agent does not actually have that authority.

Restricted authority refers to limitations that might be placed on an agent’s express authority, but it is not a commonly used term regarding types of authority in agency relationships.

Thus, express authority is the most accurate term for authority granted in a written contract