In the early Roman law of contracts the notion of agency was entirely lacking. Only the person who actually participated in the making of a contract was bound by it or could claim any rights under it. In later times the praetor, under the pressure of commercial necessity, created a law of agency closely resembling, in some striking examples, tjie modern law, but even down to the close of the Empire the law of agency in the modern sense was unknown to the Roman law. The Romans were very slow to grasp the principle of representation by an agent, and only in exceptional cases and in an imperfect manner was the principle recognized and applied. It may strike one with surprise that the practical-minded Romans failed to develop a branch of law so indispensable in modern business life. For this failure two reasons may be assigned : In the first place, the rule that everything acquired by a slave or by a person under power belonged to the master or paterfamilias, removed to so...