Professional Documents
Culture Documents
182,
An agent is a person employed to do
any act for another or to represent
another in dealing with third persons.
The person for whom such act is
done or who is so represented, is
called the principal
The
is answerable to third
parties for the acts of agent .
Consideration not necessary
Section 185 of the act clearly lays
down , No consideration is
necessary to create an agency
Principal must be competent to
employ an agent Only a person who
is competent to contract can employ
an agent. ( Major, Sound Mind )
Agent
Test Of Agency
A
Classification of agents
Special
Universal
Creation of Agency
By
Essentials of a valid
ratification
1. Act must have been done as agent on behalf
Duties of an agent
To
Rights of an agent
Right
Right
Termination of Agency
1.
2.
3.
By act of parties:
By agreement mutual consent
By revocation of authority by the
principal The principal can revoke
the authority of an agent at any
time before the authority has been
exercised as to bind the principal.
By renunciation by the agent by
giving reasonable notice.
1.
2.
3.
4.
5.
6.
Irrevocable Agency
1.
2.
THANK YOU