What type of agent has authority to act on behalf of a principal for all their business?

A general agent is designated with broad authority to act on behalf of a principal in a variety of matters, particularly within a specific sphere or domain of business. This type of agent is empowered to make decisions and take actions that pertain to the principal’s ongoing business activities without requiring explicit permission for each transaction.

For instance, a general agent in a real estate firm might handle all the day-to-day operations for the company, including contracts, negotiations, and managing client relationships. The extensive authority granted to a general agent allows them to function efficiently and independently, reflecting the principal's overall business interests.

In contrast, the other types of agents mentioned have more restricted roles. A special agent typically has authority limited to specific tasks or transactions. A limited agent works under restrictions that may prevent them from acting outside defined parameters. A designated agent is often specifically appointed for particular tasks rather than having the broad authority represented by a general agent. Hence, the scope and flexibility of a general agent's authority make it the correct choice for representing the principal fully in their business dealings.