Search results
May 2, 2020 · KINDS OF AGENT-The Indian Contract Act 1872 Notes. A. Based on Authority. DUTIES OF AN AGENT (Sec. 209 to 218) RIGHTS OF AN AGENT (Sec. 217 to 225) WHEN AN AGENT IS PERSONALLY LIABLE? (Sec. 230 and 231) Exceptions, i.e. Agent personally as well as Joint & Severally Liable. AGENCY COUPLED WITH INTERST (Sec 202) IRREVOCABLE AGENCY (Sec.202 and 204)
Oct 18, 2023 · The contract of the agency is a legal relationship, where one person appoints another to perform the transactions on his behalf. When a person employs another person to do any act for himself or to represent him in dealing with the third persons, it is called a ‘Contract of Agency’. Legal Provision
Mar 19, 2020 · Essentials: Contract of Agency. The Special Contract of Agency has been defined under Chapter 10 (section 182-238) of the Indian Contract Act, 1872; where beyond the general essentials (section 10) provided for a contract, the Act also lays down certain specific principles and essentials for the Special Contract of Agency. The major essentials ...
- Ayush Verma
Dec 25, 2020 · Learn the concept, parties, essentials and methods of creating a contract of agency under Indian Contract Act, 1872. Find out the rights, duties and liabilities of principals and agents, and the distinction between agent and servant.
Jan 7, 2024 · A contract of agency, often simply referred to as an agency contract, is a fundamental legal arrangement that governs these relationships. It involves three key parties: the principal, the agent, and third parties with whom the agent interacts on behalf of the principal.
- The primary duty of an agent is to act in the best interests of the principal. This duty includes maintaining confidentiality, avoiding conflicts o...
- In many cases, agency contracts can be created verbally and still be legally binding. However, for clarity and to avoid disputes, it's recommended...
- If an agent breaches their fiduciary duty, they may be liable for damages. The principal can take legal action against the agent to recover losses...
- Yes, a principal can appoint multiple agents, each with specific responsibilities or for different geographic regions. However, the roles and areas...
- Yes, the agent's authority is limited to the scope defined in the contract of agency. They can only perform actions and make decisions that fall wi...
Mar 26, 2019 · Learn the definition, types, and creation of agency under the Indian Contract Act, 1872. Find out the rights and duties of principals, agents, and third parties in agency transactions.
Feb 4, 2022 · Contract of Agency is defined as the situation wherein one of the parties ( the principal) in the contract transfers his authority to do an act to another person (agent) on his behalf, this is known as the contract of Agency.
