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 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
 Agency - Indian Contract Act 1956
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Agency - Indian Contract Act 1956

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Contract of Agency - Indian Contract Act, 1956

Contract of Agency - Indian Contract Act, 1956

Published in: Law, Technology, Business
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  • 1. Agreement between principal and agent The person must act in representative capacity. The principal must be competent to contract. Agent may not be competent to contract. No consideration required.
  • 2. All acts which a person can do himself can be done. Agency is based on the principal – “ he who does the thing through another does it himself.
  • 3.  Every person working for another is not an agent.
  • 4. REPRESENTATIVE CHARACTER CONTROL & SUPERVISION LIABILITY REMUNERATION COMPENSATION
  • 5.  No consideration is necessary Fact that principal has agreed to be represented by the agent is a sufficient ‘detriment’ to the principal to support the contract of agency Usually an agent is paid for his services.
  • 6. An agency may be created in any of the following ways: CREATION OF AGENCY AGENCY BY RATIFICATION AGENCY BY EXPRESS AGREEMENT AGENCY BY IMPLIED AGREEMENT
  • 7. Express authority Agent appointed by words of mouth or by an agreement in writing. Power of attorney is the usual form of a written contract of agency.
  • 8.  No express agreement Inferred from the circumstances of the case or from conduct of the parties or from relationship between the parties. Such an agency may take the following forms: *Agency by Estoppel *Agency by Holding out *Agency by necessity
  • 9.  Based on ‘Doctrine Of Estoppel’.  When an agent has, without authority, done acts or incurred obligations to third persons on behalf of his principal . The principal is bound by such acts or obligations, if he has by his words or conduct induced such third person to believe that such acts and obligations were within the scope of agent’s authority.
  • 10. Based on ‘Doctrine of Holding Out’ which is a part of the law of estoppel. It’s almost same as agency by estoppel But unlike ‘agency by estoppel’, it requires some affirmative or positive act or conduct by the principal to establish agency subsequently.
  • 11.  In certain circumstances the law confers an authority on one person to act as agent for another without any regard to the consent of the principal. Such an agency is called agency by necessity.  Where the agent exceeds his authority, bona fide, in an emergency  Where the carrier of goods acting as bailee, does anything to protect or preserve the goods, in an emergency  Where a husband improperly leaves his wife without providing proper means for her sustenance
  • 12. Section 196 deals with the effect of ratification. Ratification means the subsequent adoption and acceptance of an act originally done without instructions or authority. Ratification relates back to the time of contract that is ratification has retrospective effect. According to Section 197, ratification may be express or implied.
  • 13. o The agent must purport to act as agent for a principal who is in contemplation. oThere should be act capable of ratification. oThe principal must be in existence. o The principal must be competent to contract
  • 14. The principal must have full knowledge of material facts. Whole transaction must be ratified. Ratification must be done with in a reasonable time of the act purported to be ratified. Ratification must not injure a third person.
  • 15. The authority of an agent means his capacity to bind the principal to third parties. The scope of agents authority is determined by his: Actual Authority Express actual authority Implied actual authority Apparent Authority Authority in Emergency
  • 16. According to Section 230 an agent cannot personally enforce contracts entered into by him on behalf of the principal, nor he can be personally liable for them, unless there is a contract to the contrary. Where the agent expressly agrees Where the agent acts for a foreign principal Where the agent acts for an unnamed principal
  • 17. Where the agent acts for an undisclosed principal Where the agent acts for a principal who cannot be sued Where the agent exceeds his authority Where there is a trade usage or custom Where agent’s authority is coupled with interest

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