Is an attorney retained for litigation or to represent a party in the course of the transaction?

It is well established, moreover, that an attorney retained either for litigation or to represent a party in the course of a transaction is that party's agent. The relationship between an attorney and the client he or she represents in a lawsuit is one of agent and principal. Veal v. Geraci, 23 F.3d 722, 725 (2d Cir.1994). In connection with a transaction, it is an agent's duty to communicate to his principal the knowledge he has concerning the subject of negotiation and there is a presumption that he will perform that duty.... The rational explanation ... is

[802 F.3d 361]