What is the role of an agent in contract law?

The role of an agent in contract law is to act in the name of the principal in forming contracts. This means that the agent has the authority to create legal obligations on behalf of the principal, essentially making the principal's wishes realized in the context of contracts. The principal relies on the agent to represent their interests and execute agreements that the principal has authorized.

In terms of the responsibilities, the agent must operate within the scope of the authority granted by the principal, whether that be explicit or implied. This relationship can be critical in various contexts, such as business transactions where an agent may negotiate terms, execute contracts, or take other actions necessary to fulfill the objectives of the principal.

The other options present different roles that are not aligned with the defined purpose of agents in contract law. Negotiating on behalf of a third party does not directly clarify the relationship with the principal. Providing legal advice is a function typically associated with attorneys rather than agents. Mediation of disputes is an entirely different role that focuses on resolving issues rather than forming contracts. Thus, option B correctly identifies the integral role of an agent in contract law.