What encompasses the roles and obligations of individuals acting as agents for others?

The correct answer is the law of agency, which specifically governs the relationship between agents and their principals. In this context, the law of agency outlines the duties, responsibilities, and rights of individuals who act on behalf of another party, typically referred to as the principal. This legal framework establishes important concepts such as fiduciary duties, which require the agent to act in the best interest of the principal, disclose relevant information, and maintain loyalty and confidentiality.

Understanding the law of agency is crucial in various sectors, including real estate, finance, and business transactions, as it provides clarity on the internal dynamics of agency relationships. The agent must also adhere to any specific agreements made with the principal, which can include terms about authority and compensation, but these specific contracts fall under the broader umbrella of the law of agency.

The other options, such as property management laws, real estate regulations, and agency agreements, are specific areas or documents within the larger context of agency law. While these options are relevant to the practical application of agency relationships, they do not fully encompass the complete set of principles and obligations involved in the roles of agents and principals as outlined by the law of agency.