Which type of agency allows an agent to manage all affairs of a principal within specified areas?

The concept of a general agency pertains to the relationship in which an agent is authorized to manage all affairs of the principal within specific parameters or areas. This type of agency creates a broad spectrum of authority for the agent, allowing them to act on behalf of the principal in a variety of transactions and dealings related to a particular business or operation.

In a general agency, the agent has the authority to make decisions and conduct activities that are in line with the principal's interests, albeit within the limitations defined by the principal's scope. For instance, a property manager is an example of a general agent, as they can handle various aspects of real estate management including leasing, maintenance, and tenant relations.

This flexibility in authority distinguishes general agency from other types of agency relationships, as a special agency would only allow for limited authority in specific transactions, and a universal agency would grant broad authority without limitations to all affairs of the principal, which is not the case here. A limited agency is even more restrictive, specifying a narrower range of activities. Therefore, the characteristics of a general agency perfectly align with the definition given in the question.