Definitions (5)

1.Law: (1) A party who designates another (the agent) to act on his or her behalf. (2) A party that has the primary responsibility in a liability or obligation, as opposed to an endorser, guarantor, or surety. (3) A person who commits a crime, takes an active part in its commission, or directly or indirectly counsels or procures another person to commit it.
2.Commerce: A major party in a business transaction.
3.Contracts: A client who awards a contract to a contractor for completion of a job or project in accordance with terms of the contract. Also called owner.
4.Finance: Capital as distinct from the income (interest) derived from it.

Use principal in a sentence

  • The five businesses looking for new office space elected Jack to be the Principal agent for purchasing the real estate property to build their new office tower.

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  • The principal beneficiary of the will received two-thirds of the man's estate, while the other members of the family divided up the remaining third.

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  • Danielle's parents were the principal investors in her business, so when she became successful, she bought them a new house.

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