What is scope of limitation and agency?

The scope of limitation refers to the legal time frame within which a party can initiate a lawsuit or claim, effectively setting a deadline for legal actions to be filed. Agency, in legal terms, involves a relationship where one party, the agent, is authorized to act on behalf of another party, the principal, creating a binding effect in transactions. Together, these concepts delineate the time constraints for enforcing rights and the authority individuals possess to represent others in legal matters.