What type of authority is provided by a written contract between an agent and a principal?

The type of authority provided by a written contract between an agent and a principal is express authority. Express authority is defined as the power that the principal intentionally grants to the agent through explicit instructions or a formal agreement. This type of authority is clearly outlined in a written contract, which specifies the agent's duties, limitations, and decision-making capabilities on behalf of the principal.

This contrasts with other types of authority. For example, apparent authority occurs when a third party perceives that the agent has the authority to act on behalf of the principal because of the principal's conduct or statements, even if no such authority has been formally granted. Implied authority, on the other hand, is not explicitly stated but is assumed based on the role of the agent and the nature of the tasks they are assigned. Exclusive authority typically refers to the right of an agent to act in a particular manner without competition or intervention from others, but it does not describe the fundamental relationship defined by a written contract.

Thus, express authority is critical in ensuring that both parties have a clear understanding of the agent's powers, responsibilities, and the scope of their role in representing the principal.