Definition of Exclusive Agency
Grant to agent of exclusive right to sell within a particular market or area. A contract to give an “exclusive agency” to detil with property is ordinarily interpreted as not precluding competition by the principal generally, but only as precluding him from appointing another agent to accomplish the result. Navy Gas & Supply Co. v. Schoech, 105 Colo. 374, 98 P.2d 860, 861, 863. The grant of an “exclusive agency to sell,” that is, the exclusive right to sell the products of a wholesaler in a specified territory, ordinarily is interpreted as precluding competition in any form within designated area. Navy Gets & Supply Co. v. Schoech, 105 Colo. 374, 98 P.2d 860, 861.
That's the definition of Exclusive Agency in Black's Law Dictionary 6th Edition. Courtesy of Cekhukum.com.