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contract of Agency

contract of Agency

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Published by: PUTTU GURU PRASAD SENGUNTHA MUDALIAR on Sep 05, 2008
Copyright:Attribution Non-commercial

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07/05/2013

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Contracts of Agency
INCGUNTURGURU PRASAD.PLEGAL ENVIRONMENT OF BUSINESS
 
 
Contracts of Agency
Sec 182 of the Indian contractact,1872 defines
Agent
 
and
Principal
as:
 
Agent
means a person employedto do any act for another or torepresent another in dealing withthe third persons and
The
principal
means a person forwhom such act is done or who is sorepresented.
 
 
Contracts of Agency
An agent does not act on his ownbehalf but acts on behalf of hisprincipal. He either represents hisprincipal in transactions with thirdparties or performs an act for theprincipal. The question as towhether a particular persons is anagent can be verified by finding outif his acts bind the principal or not

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