An agency relationship does not need "consideration" to be valid, but it does need both parties to agree and the principal to have the legal ability to make decisions.
These are questions that the above text answers:
1. What is required for an agency relationship to be legally binding?
2. Does an agency relationship require "consideration" to be valid?
3. What are the two key elements needed for an agency relationship to be valid?
4. Who needs to agree in order for an agency relationship to be valid?
5. What is the role of the principal in an agency relationship?
7. Does an agency relationship require a written agreement to be valid?
8. Can an agency relationship be formed without the consent of both parties?
10. What are the requirements for an agency relationship to be legally recognized?