The arrival of keg beer as a solution to quality problems in the pub, and the rise of beer in cans, meant bottled beer sales went into a slide: slowly at first, from 34 per cent of all beer sold in 1960 to 27 per cent in 1969, and then rapidly, 20 per cent in 1974, 12 per cent in 1979, nine per cent in 1984.
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The principal is simply the person -- or group of people -- who authorizes an agent to act on his behalf. The principal is who gives the agent his authority to act and to make decisions. The principal does not typically make day-to-day decisions himself, but is legally the owner of the business and can give direction to the agent acting on his behalf.