What is the name given to the main party involved in a transaction?

The term "Principal" refers to the main party involved in a transaction, specifically in real estate and legal contexts. This term is used to denote the person or entity that is the primary party to an agreement or contract, such as a buyer, seller, or investor. The principal is often the individual who has the authority to make decisions and take actions regarding the transaction, reflecting their primary involvement and interests.

In the context of real estate, recognizing who the principal is helps clarify responsibilities, obligations, and rights within a transaction. This understanding is essential for brokers or agents, as they are typically working on behalf of the principal to facilitate the transaction.

The other terms listed do not pertain to the main party involved in a transaction in the same way. "Power of attorney" refers to a legal document that grants one person the authority to act on behalf of another, which may involve a principal but is not the main party in the transaction itself. "Point of beginning" is a term related to land surveying and property description, indicating a specific reference point. "Police power" refers to the inherent authority of a government to regulate behavior and enforce order for the betterment of the public's health, safety, and morals, which is unrelated to the identification