Agent, Agency are most commonly used words. Do we really understand what they mean? This presentation shall be of help to understand the meanings thereof.
Features of a Negotiable Instrument
Elements of Negotiability
Presumptions as to negotiable instruments
Promissory Note
Bill of Exchange
Cheque
Holder and Holder in due course
Negotiation, Indorsement and Assignment
Dishonour of negotiable instrument
Liability of Banker
Contract of agency, features of agency and termination agencyFAST NUCES
The presentation is abut the contract of agency. it contains the essentials features required for a agency. Moreover, it also includes the purpose of agency and kinds of agent. further, it is also providing termination of agency.
The document discusses the "Doctrine of Indoor Management" or "Turquand rule", which states that an outsider dealing with a company can assume that internal procedures were followed correctly, based on what is stated in the company's Memorandum and Articles. However, there are exceptions if the outsider was negligent, ignored the Articles, or had knowledge of any irregularities in how the company followed its internal processes. The rule also does not apply if forgery was involved or if the circumstances around the transaction were suspicious enough to require further inquiry.
This document discusses void agreements under Indian contract law. It begins by defining an agreement and contract. It then explains that a void agreement is one that is not enforceable by law and does not create any legal obligations from the beginning. Several types of agreements are expressly declared void by the Indian Contract Act, including agreements in restraint of marriage, trade, or legal proceedings, agreements with uncertain meanings, wagering agreements, and agreements contingent on impossible events. Examples of cases related to various void agreements are also provided.
The document defines a holder and holder in due course under Indian law. A holder is defined as someone who possesses a negotiable instrument and is entitled to payment. To be a holder in due course, one must pay consideration for the instrument, receive it before maturity in good faith, and have no reason to doubt the title of the person they received it from. Key differences between a holder and holder in due course are that a holder can take possession without consideration, while a holder in due course must provide consideration and receive the instrument before maturity with a clear title.
The document discusses the concept of agency in contract law. It defines agency as a relationship based on express or implied agreement where one person, the agent, acts on behalf of another, the principal. It outlines key differences between agents and servants, features of agency, types of agents based on authority and work, and ways an agency can be created, terminated, and the rights and duties of agents.
Features of a Negotiable Instrument
Elements of Negotiability
Presumptions as to negotiable instruments
Promissory Note
Bill of Exchange
Cheque
Holder and Holder in due course
Negotiation, Indorsement and Assignment
Dishonour of negotiable instrument
Liability of Banker
Contract of agency, features of agency and termination agencyFAST NUCES
The presentation is abut the contract of agency. it contains the essentials features required for a agency. Moreover, it also includes the purpose of agency and kinds of agent. further, it is also providing termination of agency.
The document discusses the "Doctrine of Indoor Management" or "Turquand rule", which states that an outsider dealing with a company can assume that internal procedures were followed correctly, based on what is stated in the company's Memorandum and Articles. However, there are exceptions if the outsider was negligent, ignored the Articles, or had knowledge of any irregularities in how the company followed its internal processes. The rule also does not apply if forgery was involved or if the circumstances around the transaction were suspicious enough to require further inquiry.
This document discusses void agreements under Indian contract law. It begins by defining an agreement and contract. It then explains that a void agreement is one that is not enforceable by law and does not create any legal obligations from the beginning. Several types of agreements are expressly declared void by the Indian Contract Act, including agreements in restraint of marriage, trade, or legal proceedings, agreements with uncertain meanings, wagering agreements, and agreements contingent on impossible events. Examples of cases related to various void agreements are also provided.
The document defines a holder and holder in due course under Indian law. A holder is defined as someone who possesses a negotiable instrument and is entitled to payment. To be a holder in due course, one must pay consideration for the instrument, receive it before maturity in good faith, and have no reason to doubt the title of the person they received it from. Key differences between a holder and holder in due course are that a holder can take possession without consideration, while a holder in due course must provide consideration and receive the instrument before maturity with a clear title.
The document discusses the concept of agency in contract law. It defines agency as a relationship based on express or implied agreement where one person, the agent, acts on behalf of another, the principal. It outlines key differences between agents and servants, features of agency, types of agents based on authority and work, and ways an agency can be created, terminated, and the rights and duties of agents.
The TPA Act has not defined this term. It only says that, “immovable property” does not includes standing timber, growing crops or grass.
However section 3(25) of the general clause act, 1897 defines the term “immovable property” as-
immovable property shall include land, benefit to arise out of land, and things attached to land or permanently fastened to anything attached to the Earth.
This document provides an overview of bailment and pledge under Indian contract law. It defines bailment as the delivery of goods by one person to another for a purpose, upon agreement that the goods will be returned after the purpose is accomplished. Pledge is defined as a special type of bailment where goods are deposited as security for a debt. The document outlines the essential features of bailment, different types of bailment, rights and duties of the bailor/bailee and pledger/pledgee, and exceptions for pledge by non-owners. It aims to increase general understanding of bailment and pledge concepts.
Promoters play an important role in bringing about the incorporation and organization of a company. Promoters are not agents or trustees of the proposed company but do have fiduciary duties to the company and future shareholders. Pre-incorporation contracts entered into by promoters on behalf of the proposed company make the promoters personally liable since the company does not yet exist, though the company can later adopt such contracts under law. The duties and potential liabilities of promoters are outlined in the Companies Act.
The document discusses the doctrine of caveat emptor, or "let the buyer beware." It states that under this doctrine, there is no implied warranty on the quality or fitness of goods unless exceptions apply. The exceptions include misrepresentation by the seller, concealment of latent defects, sale by description or sample that does not match, and goods intended for a particular purpose or required to have merchantable quality. While caveat emptor was important historically, its rigors have been mitigated by modern legislation, competition, and consumer awareness. The relevance of caveat emptor has declined and should be replaced by "caveat vendor," or let the seller beware.
The document provides an overview of negotiable instruments under Indian law. It defines key terms like negotiable instrument, promissory note, bill of exchange, cheque, endorsement, holder, and holder in due course. It describes the essential characteristics and requirements for these instruments and roles. It also discusses concepts like negotiation, dishonour, noting, and protest. The document is an educational reference on the basic concepts, definitions, and principles regarding negotiable instruments under the Negotiable Instruments Act of 1881 in India.
This document provides an introduction to contracts of indemnity and guarantee under Indian contract law. It defines a contract of indemnity as one where one party promises to save another from loss caused by the conduct of the promisor or a third party. A contract of guarantee is defined as a promise to perform or discharge the liability of a third party in case of their default. The key parties in each are identified. Essentials and rights under each contract are outlined, along with differences between the two types of contracts.
This document discusses key concepts relating to contracts for the sale of goods under Indian law. It begins by providing background on the Sale of Goods Act and then defines a contract of sale. The main elements of a contract of sale are that it involves the transfer of ownership of goods from a seller to a buyer in exchange for a price. The document goes on to distinguish between a sale, where ownership transfers immediately, and an agreement to sell, where transfer occurs later. It also discusses documents related to the sale of goods and implied conditions and warranties in contracts.
The document discusses the concept of corporate personality and lifting the corporate veil. Corporate personality means a company's liabilities are the legal responsibility of the company and members will not be liable for debts. Normally there is a veil between the company and its members. However, in exceptional cases like fraud, improper conduct, or public interest, courts may lift the veil and disregard the separate legal entity to hold individual members responsible. The document outlines some key cases and circumstances under which courts have lifted the veil, including for the benefit of revenue, where the company is being used to avoid legal obligations, or where it is essentially a single economic entity.
This document discusses bailment and pledge under Indian contract law. It defines bailment as the delivery of goods by one person to another for a specific purpose, to be returned after. The person delivering the goods is the bailor and the person receiving them is the bailee. Bailment can be gratuitous (without payment) or for a reward. A pledge is a type of bailment where goods are delivered as security for a debt. The document outlines the essential elements, types, duties of bailors/bailees, rights of bailors/bailees, and termination of bailment. It compares bailment to sale and bailment to pledge.
The document discusses the key aspects of a contract of sale under Indian law. It begins by defining a contract of sale and differentiating between a sale and an agreement to sell. It then covers the essential elements of a valid contract of sale, implied conditions and warranties, caveat emptor, and how the transfer of property occurs. Specifically, it examines how property is transferred for unascertained goods, specific goods, and goods sold on approval. The document provides a comprehensive overview of contract of sale with examples to illustrate important legal concepts.
The document discusses articles of association (AOA), which contain the internal rules and regulations of a company for the benefit of shareholders. AOA must be registered for certain types of companies and usually deal with matters like shareholder rights, board meetings, and resolutions. AOA can be altered by special resolution but cannot contradict the memorandum of association or companies act. The doctrine of indoor management protects outsiders dealing with companies by assuming they have constructive notice of AOA contents, with some exceptions. AOA are subordinate to the memorandum of association and govern internal company relations.
The document discusses the legal concept of bailment under Indian law. It defines bailment as the delivery of goods by one person to another for a certain purpose based on an agreement to return or dispose of the goods. Key elements of a bailment include delivery of possession of goods, for a specific purpose, and return of the goods. The document outlines the duties of the bailee and bailor, types of bailments, termination of bailment, and the bailee's right to lien over the goods.
The document discusses the capacity of parties to enter into contracts under Indian law. It defines who is competent to contract and notes that agreements with minors are void. A minor is deemed to have attained majority at age 18 except under certain circumstances like where a guardian has been appointed, in which case majority is 21. Agreements with minors are not valid and a minor cannot be estopped from pleading minority to avoid the agreement. However, if a minor fraudulently misrepresented their age, the court may award compensation to the other party. Upon reaching the age of majority, a minor can potentially ratify agreements made as a minor.
Background of Company Law in England,
Background of Company Law in India,
Definition of Company,
Nature & Characteristics,
Features of Company,
Lifting the corporate veil,
Types of Companies,
Formation of a Company,
Memorandum & Article of Association,
Prospectus,
Share & Share Capita,
Company Management & Director,
Meetings,
Borrowing Powers,
Debentures & Charges,
Accounts & Auditors,
Prevention of oppression & Mismanagement,
Winding up,
The document discusses the rights of an unpaid seller under contract law. It defines an unpaid seller as someone who has sold goods but has not received full payment for them. The key rights of an unpaid seller include:
1. Rights against the goods, such as lien (the right to retain possession of goods until paid), stoppage in transit (stopping delivery while goods are in transit if the buyer is insolvent), and re-sale of goods if buyer does not pay.
2. Rights against the buyer personally, such as suing for the price of goods, damages for non-acceptance, or special damages and interest.
3. The rights depend on whether property in the goods has transferred to the buyer
The document summarizes provisions related to meetings under the Companies Act, including:
- Types of meetings like statutory meetings, annual general meetings, extraordinary general meetings, and meetings of creditors/debenture holders.
- Requirements for statutory meetings like approving a statutory report within 3-6 months of commencement of business.
- Requirements for annual general meetings like holding the first AGM within 18 months of incorporation and subsequent AGMs within 4 months of financial year end.
- Provisions for extraordinary general meetings, including who can call them and notice requirements.
- Other meeting provisions around quorum, voting, proxies, and maintenance of minutes.
The Indian Partnership Act of 1932 governs partnerships in India. It defines a partnership as the relationship between two or more people who jointly conduct business and share profits. The Act provides guidelines around partnership formation, the rights and duties of partners, and dissolution procedures. It aims to inform the public about their legal obligations when transacting with partnerships.
Pledge is the bailment of goods as security for repayment of a debt or performance of a promise. The pledger (bailor) delivers possession of movable property to the pledgee (bailee) as security. The pledgee has the right to retain the goods until repayment of the debt and expenses. The pledger can redeem the goods by repaying the debt within the agreed time or any subsequent time before goods are sold. Duties include the pledgee taking reasonable care of goods and the pledger repaying the debt. A non-owner can also pledge goods in some situations like a mercantile agent pledging with owner's consent.
This document discusses agency and the role of agents. It defines an agent as a person who acts on behalf of another person (the principal) and deals with third parties as a representative. Agents play an important role in modern business by acting as intermediaries between producers/sellers and consumers/buyers. The key duties of an agent are to act according to the principal's instructions, act with reasonable diligence, render accounts, and protect the principal's interests. The principal is generally liable for the lawful acts of an agent. However, agents can also face personal liability in some circumstances, such as when acting for a foreign or secret principal.
This document discusses agency law in Nepal. It defines key terms like principal and agent. An agent is someone authorized to act on behalf of a principal in dealings with third parties. Nepal previously had an Agency Ordinance and now has provisions in its Contract Act of 2056 governing agency relationships. The law requires the principal's appointment of the agent and delegation of authority. The principal is responsible for the agent's authorized acts. Commercial agents like factors, brokers, and auctioneers are discussed. Non-commercial agents can include lawyers and attorneys. An agent's authority can be special for a specific act, general for any act in a given scope, or universal without limitation. Consideration is not required for an agency contract.
The TPA Act has not defined this term. It only says that, “immovable property” does not includes standing timber, growing crops or grass.
However section 3(25) of the general clause act, 1897 defines the term “immovable property” as-
immovable property shall include land, benefit to arise out of land, and things attached to land or permanently fastened to anything attached to the Earth.
This document provides an overview of bailment and pledge under Indian contract law. It defines bailment as the delivery of goods by one person to another for a purpose, upon agreement that the goods will be returned after the purpose is accomplished. Pledge is defined as a special type of bailment where goods are deposited as security for a debt. The document outlines the essential features of bailment, different types of bailment, rights and duties of the bailor/bailee and pledger/pledgee, and exceptions for pledge by non-owners. It aims to increase general understanding of bailment and pledge concepts.
Promoters play an important role in bringing about the incorporation and organization of a company. Promoters are not agents or trustees of the proposed company but do have fiduciary duties to the company and future shareholders. Pre-incorporation contracts entered into by promoters on behalf of the proposed company make the promoters personally liable since the company does not yet exist, though the company can later adopt such contracts under law. The duties and potential liabilities of promoters are outlined in the Companies Act.
The document discusses the doctrine of caveat emptor, or "let the buyer beware." It states that under this doctrine, there is no implied warranty on the quality or fitness of goods unless exceptions apply. The exceptions include misrepresentation by the seller, concealment of latent defects, sale by description or sample that does not match, and goods intended for a particular purpose or required to have merchantable quality. While caveat emptor was important historically, its rigors have been mitigated by modern legislation, competition, and consumer awareness. The relevance of caveat emptor has declined and should be replaced by "caveat vendor," or let the seller beware.
The document provides an overview of negotiable instruments under Indian law. It defines key terms like negotiable instrument, promissory note, bill of exchange, cheque, endorsement, holder, and holder in due course. It describes the essential characteristics and requirements for these instruments and roles. It also discusses concepts like negotiation, dishonour, noting, and protest. The document is an educational reference on the basic concepts, definitions, and principles regarding negotiable instruments under the Negotiable Instruments Act of 1881 in India.
This document provides an introduction to contracts of indemnity and guarantee under Indian contract law. It defines a contract of indemnity as one where one party promises to save another from loss caused by the conduct of the promisor or a third party. A contract of guarantee is defined as a promise to perform or discharge the liability of a third party in case of their default. The key parties in each are identified. Essentials and rights under each contract are outlined, along with differences between the two types of contracts.
This document discusses key concepts relating to contracts for the sale of goods under Indian law. It begins by providing background on the Sale of Goods Act and then defines a contract of sale. The main elements of a contract of sale are that it involves the transfer of ownership of goods from a seller to a buyer in exchange for a price. The document goes on to distinguish between a sale, where ownership transfers immediately, and an agreement to sell, where transfer occurs later. It also discusses documents related to the sale of goods and implied conditions and warranties in contracts.
The document discusses the concept of corporate personality and lifting the corporate veil. Corporate personality means a company's liabilities are the legal responsibility of the company and members will not be liable for debts. Normally there is a veil between the company and its members. However, in exceptional cases like fraud, improper conduct, or public interest, courts may lift the veil and disregard the separate legal entity to hold individual members responsible. The document outlines some key cases and circumstances under which courts have lifted the veil, including for the benefit of revenue, where the company is being used to avoid legal obligations, or where it is essentially a single economic entity.
This document discusses bailment and pledge under Indian contract law. It defines bailment as the delivery of goods by one person to another for a specific purpose, to be returned after. The person delivering the goods is the bailor and the person receiving them is the bailee. Bailment can be gratuitous (without payment) or for a reward. A pledge is a type of bailment where goods are delivered as security for a debt. The document outlines the essential elements, types, duties of bailors/bailees, rights of bailors/bailees, and termination of bailment. It compares bailment to sale and bailment to pledge.
The document discusses the key aspects of a contract of sale under Indian law. It begins by defining a contract of sale and differentiating between a sale and an agreement to sell. It then covers the essential elements of a valid contract of sale, implied conditions and warranties, caveat emptor, and how the transfer of property occurs. Specifically, it examines how property is transferred for unascertained goods, specific goods, and goods sold on approval. The document provides a comprehensive overview of contract of sale with examples to illustrate important legal concepts.
The document discusses articles of association (AOA), which contain the internal rules and regulations of a company for the benefit of shareholders. AOA must be registered for certain types of companies and usually deal with matters like shareholder rights, board meetings, and resolutions. AOA can be altered by special resolution but cannot contradict the memorandum of association or companies act. The doctrine of indoor management protects outsiders dealing with companies by assuming they have constructive notice of AOA contents, with some exceptions. AOA are subordinate to the memorandum of association and govern internal company relations.
The document discusses the legal concept of bailment under Indian law. It defines bailment as the delivery of goods by one person to another for a certain purpose based on an agreement to return or dispose of the goods. Key elements of a bailment include delivery of possession of goods, for a specific purpose, and return of the goods. The document outlines the duties of the bailee and bailor, types of bailments, termination of bailment, and the bailee's right to lien over the goods.
The document discusses the capacity of parties to enter into contracts under Indian law. It defines who is competent to contract and notes that agreements with minors are void. A minor is deemed to have attained majority at age 18 except under certain circumstances like where a guardian has been appointed, in which case majority is 21. Agreements with minors are not valid and a minor cannot be estopped from pleading minority to avoid the agreement. However, if a minor fraudulently misrepresented their age, the court may award compensation to the other party. Upon reaching the age of majority, a minor can potentially ratify agreements made as a minor.
Background of Company Law in England,
Background of Company Law in India,
Definition of Company,
Nature & Characteristics,
Features of Company,
Lifting the corporate veil,
Types of Companies,
Formation of a Company,
Memorandum & Article of Association,
Prospectus,
Share & Share Capita,
Company Management & Director,
Meetings,
Borrowing Powers,
Debentures & Charges,
Accounts & Auditors,
Prevention of oppression & Mismanagement,
Winding up,
The document discusses the rights of an unpaid seller under contract law. It defines an unpaid seller as someone who has sold goods but has not received full payment for them. The key rights of an unpaid seller include:
1. Rights against the goods, such as lien (the right to retain possession of goods until paid), stoppage in transit (stopping delivery while goods are in transit if the buyer is insolvent), and re-sale of goods if buyer does not pay.
2. Rights against the buyer personally, such as suing for the price of goods, damages for non-acceptance, or special damages and interest.
3. The rights depend on whether property in the goods has transferred to the buyer
The document summarizes provisions related to meetings under the Companies Act, including:
- Types of meetings like statutory meetings, annual general meetings, extraordinary general meetings, and meetings of creditors/debenture holders.
- Requirements for statutory meetings like approving a statutory report within 3-6 months of commencement of business.
- Requirements for annual general meetings like holding the first AGM within 18 months of incorporation and subsequent AGMs within 4 months of financial year end.
- Provisions for extraordinary general meetings, including who can call them and notice requirements.
- Other meeting provisions around quorum, voting, proxies, and maintenance of minutes.
The Indian Partnership Act of 1932 governs partnerships in India. It defines a partnership as the relationship between two or more people who jointly conduct business and share profits. The Act provides guidelines around partnership formation, the rights and duties of partners, and dissolution procedures. It aims to inform the public about their legal obligations when transacting with partnerships.
Pledge is the bailment of goods as security for repayment of a debt or performance of a promise. The pledger (bailor) delivers possession of movable property to the pledgee (bailee) as security. The pledgee has the right to retain the goods until repayment of the debt and expenses. The pledger can redeem the goods by repaying the debt within the agreed time or any subsequent time before goods are sold. Duties include the pledgee taking reasonable care of goods and the pledger repaying the debt. A non-owner can also pledge goods in some situations like a mercantile agent pledging with owner's consent.
This document discusses agency and the role of agents. It defines an agent as a person who acts on behalf of another person (the principal) and deals with third parties as a representative. Agents play an important role in modern business by acting as intermediaries between producers/sellers and consumers/buyers. The key duties of an agent are to act according to the principal's instructions, act with reasonable diligence, render accounts, and protect the principal's interests. The principal is generally liable for the lawful acts of an agent. However, agents can also face personal liability in some circumstances, such as when acting for a foreign or secret principal.
This document discusses agency law in Nepal. It defines key terms like principal and agent. An agent is someone authorized to act on behalf of a principal in dealings with third parties. Nepal previously had an Agency Ordinance and now has provisions in its Contract Act of 2056 governing agency relationships. The law requires the principal's appointment of the agent and delegation of authority. The principal is responsible for the agent's authorized acts. Commercial agents like factors, brokers, and auctioneers are discussed. Non-commercial agents can include lawyers and attorneys. An agent's authority can be special for a specific act, general for any act in a given scope, or universal without limitation. Consideration is not required for an agency contract.
1) An agency relationship is created between a principal and agent through express or implied agreement. The principal must have the legal capacity to enter into a contract.
2) An agent acts on behalf of the principal and their actions can legally bind the principal. The principal maintains control and supervision over the agent.
3) A principal can become liable for unauthorized actions of an agent if the principal's words or conduct led a third party to reasonably believe the agent had authority. Ratification by the principal after the fact can also create an agency relationship retroactively.
The document defines key terms related to agency, including agent, principal, and agency. It outlines several essential elements of a valid agency, including an agreement between the principal and agent. It also distinguishes agents from other roles like servants, independent contractors, and bailees. The document discusses different types of agents based on authority, including special, general, and universal agents. It also covers mercantile agents like auctioneers, factors, brokers, and commission agents.
The document discusses various aspects of agency law in Sri Lanka. It defines agency as a relationship between two parties known as the agent and principal. The principal authorizes the agent to act on their behalf, such as entering contracts with third parties. There are different ways agency can be created, including actual authority given expressly or implicitly, apparent authority through representations to third parties, and agency of necessity in emergencies. The duties of agents and rights of principals are also outlined.
Contract of Agency is a two-party relationship in which one person acts as representative to the other in business dealing in order to create contractual relations between that other and third person.
A contract of agency is an agreement where one person, the agent, acts on behalf of another person, the principal. The agent is authorized to negotiate and make contracts with third parties under the control of the principal. Key aspects of a contract of agency include that consideration is not essential, the agent can delegate authority with permission, and if the agent is removed, any sub-agents are automatically terminated. Authority can be express, implied, by estoppel, or by holding out based on the relationship between the parties. An agent's rights against the principal include the right to remuneration, lien over the principal's goods until paid, and indemnity if removed without cause.
The passage discusses the powers exercised by architects as agents in agency relationships. It states that unless otherwise specified in a contract, architects generally have limited authority as agents. Architects' power and authority are determined by general agency law and the terms of their contracts. The agency relationship can be terminated in several ways, such as by agreement of the parties, revocation of authority, death of a party, completion of the task, or expiration of time. The statement that architects usually have limited authority as agents reflects the general principles of agency law.
This document provides an overview of agency law under the Indian Contract Act of 1872. It defines agency as a relationship where one party, the agent, acts on behalf of the other, the principal. The document outlines the essentials of a valid agency, including that the principal and agent must have contractual capacity. It discusses the different types of agents and how an agency can be created or terminated. The document also examines the rights and duties of the principal and agent toward each other, as well as situations where the agent may be personally liable, such as when the principal is undisclosed.
This document discusses various aspects of agency law, including:
1) An agent can create a binding contractual relationship for the principal, and the principal can be vicariously liable for acts of the agent within the scope of employment. Different types of agents are discussed such as factors, brokers, and del credere agents.
2) Agency can be created expressly through an oral or written agreement, or implied through the conduct of the principal authorizing another to act as an agent. A principal can also ratify unauthorized acts of another and create an agency relationship retroactively.
3) Special types of agency relationships are discussed including directors as agents of a company according to corporate law, and partners being mutual agents for
The document outlines the law of agency in India, including definitions of agency, classifications of agents, rights and duties of principals and agents, creation and termination of agency relationships. It discusses the essential elements of an agency contract and covers implied and express authority, ratification, estoppel, and termination of agency by agreement, operation of law or acts of the parties.
The document discusses agency, including:
1) The definition of an agent and principal according to Indian law.
2) The various modes of creating an agency relationship, including express, implied, ratification, estoppel, and necessity.
3) The differences and classifications of agents, including general vs special agents, and mercantile agents like brokers, factors, etc.
4) The rights and duties of both agents and principals.
(1) Agency relationships are formed by mutual consent between a principal and an agent. The agent agrees to act on behalf of and subject to the control of the principal.
(2) There are several types of agency relationships, including express agency, implied agency, apparent agency, and agency by ratification. There are also different types of employment relationships such as employer-employee, principal-agent, and principal-independent contractor.
(3) An agency relationship can be terminated either by acts of the parties like agreement or time elapsed, or by operation of law such as death, bankruptcy or war between the countries of the principal and agent.
The document discusses agency and insurance law under Indian contract law. It defines key terms like principal, agent, insurer, and insured. For agency, it covers creation of agency through express, implied, and ratification agreements. It discusses the duties of agents and circumstances for terminating agency. For insurance, it defines insurance as a risk-sharing contract between an insurer and insured where the insurer agrees to pay a sum or indemnify losses in exchange for a premium. It outlines characteristics of insurance contracts like utmost good faith and indemnity.
An agent is a person employed to act on behalf of another person called the principal. There are various ways an agency can be created, including express agreement, implied agreement, ratification, and by necessity. An agent has duties to conduct business with reasonable care and diligence according to the principal's instructions. An agent has rights like indemnification and retaining property until paid. A principal is bound by an agent's authorized acts but can also be liable for unauthorized acts under certain conditions. An agency terminates through completion, agreement, expiration, or other events.
Agency and the act of an Uncommissioned Agent (Fadooli)Shahnawaz Bhamani
The document discusses agency contracts and the roles of principals and agents. It defines key terms like principal, agent, and agency contract. It describes different types of agencies and provides examples. It outlines elements of agency contracts like subject matter and parties. It discusses conditions on principals, agents, and subject matter. It also covers agent commitments and contract termination.
Similar to Agency under section 182 of The Indian Contract Act, 1872 (20)
19-04-2010, Today, we are fighting outbreak of Corona. This act, The Epidemic Diseases Act, 1897, gives outline about, quarantine, inspection, segregation, isolation etc. This act, also outlines about the powers of State and Central Government.
The document provides an overview of various communication models, including linear, transactional, and interactive models. It summarizes several key models, such as Lasswell's model, Aristotle's model, Shannon and Weaver's model, Berlo's SMCR model, Barnlund's transactional model, and Schramm's interactive model. The document is intended as learning material for a session on communication models.
A person can not be present all the times at all the places. He, as a Principal can appoint his Attorney to execute tasks which he could have done by himself as if done by himself by executing Power of Attorney (PoA).
This presentation on The Press Council Act, 1978 shall be helpful to management, media, law students and public at large and help understand basics of laws related to Media.
This learning resource shall guide you with basics of E-Marketing. You can transform traditional business model to online business model with small management planning and technical know how. e-Welcome!
This presentation shall help you with the basics of the Direct Marketing to boost Revenue. As a management faculty this presentation was prepared for academic purposes having practical insights.
This document is a dissertation submitted by Avinash Murkute to Bharati Vidyapeeth University in Pune, India for an LLM degree in the year 2015-2016. The dissertation analyzes international commercial arbitration from both an Indian and global perspective. It discusses the evolution of arbitration from traditional times to the UNCITRAL Model Law on International Commercial Arbitration. It examines key concepts like the UNCITRAL, Model Arbitration Law, arbitration provisions in the Indian law, composition and jurisdiction of arbitral tribunals, and enforcement of foreign awards. The dissertation also analyzes emerging topics like online dispute resolution and includes interviews with experts.
1) The document discusses the International Civil Aviation Organization (ICAO), which was created in 1944 by 54 nations to ensure safe and orderly growth of international civil aviation.
2) ICAO aims to promote safety and uniform regulations through establishing international standards and recommended practices.
3) ICAO is a specialized UN agency with 191 member states that coordinates assistance and capacity building for states on issues relating to aviation safety, security, and performance.
The document summarizes the International Covenant on Civil and Political Rights (ICCPR), which was adopted by the UN General Assembly in 1966. It describes the ICCPR's recognition of inherent human dignity and equal rights. The ICCPR guarantees civil and political rights including the right to self-determination, equal protection, liberty, due process, privacy, freedom of speech and religion. It establishes a Human Rights Committee to monitor implementation of the ICCPR and receive reports from state parties. In conclusion, it notes that the ICCPR sets basic principles for upholding minimum human rights standards.
The United Nations is an international organization established in 1945 to promote international cooperation. It currently has 193 member states. The UN aims to maintain international peace and security, protect human rights, deliver humanitarian aid, promote sustainable development, and uphold international law. It provides a forum for member states to discuss issues and negotiate solutions to global problems. However, the UN faces criticisms related to its effectiveness in achieving its goals like maintaining peace and security due to veto powers of permanent Security Council members and issues with achieving consensus among diverse member states.
The Maintenance and Welfare of Parents and Senior Citizens Act, 2007 is an effort towards maintenance support to elderly parents and senior citizens and for simple, speedy and effective relief to elderly persons. An effective mechanism to the senior citizens to facilitate the claims of maintenance from their children, grandchildren or relatives. This presentation shall help all to understand the fabric of this Legal Instrument
Citizens are required to take affidavit(s) for various needs but legal understanding about the Affidavit is less. This presentation shall prepare them to be ready to take affidavit. Remember Affidavit is not as simple as making a telephone call. Follow the process.
Ideas of Local Self Help Governance and Panchayat Raj System (institutions) are enshrined in the Constitution of India. This instruction shall help us understand PRI and PRS.
This presentation shall provide practical insights of The Maharashtra Regulation of Marriage Bureaus and Registration of Marriages Act, 1998 and shall help those who are getting married and would like register the marriage and avail marriage registration certificate.
The document contains reviews from various customers who have used Galaxy4u's legal translation and documentation services. The reviews praise Galaxy4u for providing high quality, timely, and satisfactory services for translating various legal documents from English to other languages and vice versa. Galaxy4u is recommended for its professional, reliable and trusted legal translation services.
The Official Languages Act stipulates the usage of English Language, Hindi Language and Other Official Languages in the Business of Union and the States and other authorities including Orders and Decrees passed by the High Courts, their languages and importance of TRANSLATIONS.
Prof. Avinash Murkute presented a training session on The Registration of Births and Deaths Act, 1969. The document provides an overview of the key aspects of the Act, including:
- Establishing registration authorities at central, state, district and local levels.
- Requiring certain individuals like heads of households to register births and deaths.
- Specifying procedures for registering births and deaths, including timelines, fees and penalties.
- Maintaining records of registered births and deaths and providing related extracts and certificates.
- Granting powers to registration authorities to correct errors and obtain information.
The document discusses the Act's provisions over 5 chapters covering preliminary matters, registration establishment
At Galaxy4u, we offer Legal Translation, Transcription, Documentation, Interpretation and allied services. Language pairs are most Indian languages and Foreign languages too.
This document briefly explains the June compliance calendar 2024 with income tax returns, PF, ESI, and important due dates, forms to be filled out, periods, and who should file them?.
Defending Weapons Offence Charges: Role of Mississauga Criminal Defence LawyersHarpreetSaini48
Discover how Mississauga criminal defence lawyers defend clients facing weapon offence charges with expert legal guidance and courtroom representation.
To know more visit: https://www.saini-law.com/
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...Massimo Talia
This guide aims to provide information on how lawyers will be able to use the opportunities provided by AI tools and how such tools could help the business processes of small firms. Its objective is to provide lawyers with some background to understand what they can and cannot realistically expect from these products. This guide aims to give a reference point for small law practices in the EU
against which they can evaluate those classes of AI applications that are probably the most relevant for them.
Lifting the Corporate Veil. Power Point Presentationseri bangash
"Lifting the Corporate Veil" is a legal concept that refers to the judicial act of disregarding the separate legal personality of a corporation or limited liability company (LLC). Normally, a corporation is considered a legal entity separate from its shareholders or members, meaning that the personal assets of shareholders or members are protected from the liabilities of the corporation. However, there are certain situations where courts may decide to "pierce" or "lift" the corporate veil, holding shareholders or members personally liable for the debts or actions of the corporation.
Here are some common scenarios in which courts might lift the corporate veil:
Fraud or Illegality: If shareholders or members use the corporate structure to perpetrate fraud, evade legal obligations, or engage in illegal activities, courts may disregard the corporate entity and hold those individuals personally liable.
Undercapitalization: If a corporation is formed with insufficient capital to conduct its intended business and meet its foreseeable liabilities, and this lack of capitalization results in harm to creditors or other parties, courts may lift the corporate veil to hold shareholders or members liable.
Failure to Observe Corporate Formalities: Corporations and LLCs are required to observe certain formalities, such as holding regular meetings, maintaining separate financial records, and avoiding commingling of personal and corporate assets. If these formalities are not observed and the corporate structure is used as a mere façade, courts may disregard the corporate entity.
Alter Ego: If there is such a unity of interest and ownership between the corporation and its shareholders or members that the separate personalities of the corporation and the individuals no longer exist, courts may treat the corporation as the alter ego of its owners and hold them personally liable.
Group Enterprises: In some cases, where multiple corporations are closely related or form part of a single economic unit, courts may pierce the corporate veil to achieve equity, particularly if one corporation's actions harm creditors or other stakeholders and the corporate structure is being used to shield culpable parties from liability.
What are the common challenges faced by women lawyers working in the legal pr...lawyersonia
The legal profession, which has historically been male-dominated, has experienced a significant increase in the number of women entering the field over the past few decades. Despite this progress, women lawyers continue to encounter various challenges as they strive for top positions.
What are the common challenges faced by women lawyers working in the legal pr...
Agency under section 182 of The Indian Contract Act, 1872
1. Welcome to Training Session on
AGENCYAGENCY
Under Section 182 ofUnder Section 182 of
THE INDIAN CONTRACT ACT, 1872THE INDIAN CONTRACT ACT, 1872
----------------------------------------------------------------------------------------------
By Avinash Murkute | Founder | Galaxy4uBy Avinash Murkute | Founder | Galaxy4u
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
2. Galaxy4u: We do Legal Translations!Galaxy4u: We do Legal Translations!
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
3. DefinitionDefinition
The two terms – ‘agent’ and ‘principal’ – have been defined in
Section 182 of the Contract Act as follows:
An agent is a person employed to do any act for another or to
represent another in dealings with third persons. The person for
whom such act is done, or who is represented, is called the principal.
The contract which creates the relationship of ‘principal’ and ‘agent’
is called an ‘agency.’ For example if Bank of Maharashtra (BoM)
appoints Galaxy4u to purchase 200 Samosas on its behalf, BoM is the
‘principal’ and Galaxy4u is ‘agent’ and the contract between two is
‘agency.’
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
4. ““He, who does through another, does byHe, who does through another, does by
himself.”himself.”
Whatever a person competent to contract may do by himself, he may
do through an agent, except for acts involving personal skill and
qualifications. In fact, where the work to be done is obviously
personal, no agent can be employed. For example, a person cannot
marry through an agent, cannot paint a picture through an agent and
so on.
Section 226 provides to the same effect: “Contracts entered into
through an agent, and obligations arising from acts done by an agent,
may be enforced in the same manner, and will have the same legal
consequences as if the contracts had been entered into and the acts
done by the principal in person.’’
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
5. Test of Agency
Agency exists ‘whenever a person has the authority to act on behalf
of the other and to create contractual relations between that other
and third persons.’ When this kind of power is not enjoyed, the
relationship is not one of agency. Thus a person is not an agent
merely because he gives another advice in matter of business.
Similarly, a person rendering personal service to his master or
working in his factory cannot be called as an agent because in these
cases he is not acting for another in dealing with third persons. It is
only when one acts as representative of the other in business dealing
so as to create contractual relations between that other and third
persons, that he is an agent and there is an agency.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
6. Distinction between Agent & Servant
A servant acts under the direct control and supervision of his
employer, that is, he has to act according to the orders of the master.
He does not create relations between his employer and third persons
and cannot bind the master to third parties. If, for some purpose, he
is authorized to bind the master, then to that extent he is an agent.
An agent is not subject to the direct control and supervision of the
principal. He has often a large discretion to act within the scope of his
authority. A ‘principal’ directs the agent “as to what is to be done”
while a ‘master’ has the further right to direct “how the work is to be
done.”
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
7. Distinction between Agent and
Independent Contractor
An independent contractor is one who is employed to perform
certain specified work but the manner and means of performance are
entirely left to his discretion. He is free to do the specified job
independently of the employer’s control and interference. Such a
contractor also differs from an agent. The main point of distinction is
that while the contractor does not represent his employer in relation
to other persons and as such cannot bind the employer by contracts
entered into with others, the agent, on the other hand, does
represent his employer in relation to other persons and can bind the
employer (his principal) by contracts entered into with other persons
within the scope of his authority.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
8. Who may Employ an Agent?
According to section 183, “any person who is of the age of majority
according to the law to which he is subject, and who is of sound
mind, may employ an agent.” As such any person competent to
contract may employ an agent and a minor, a lunatic or a drunken
person cannot employ an agent. Per Section 184 “as between the
principal and third persons any person may become an agent.” Thus
even a minor or a person of unsound mind can be appointed as
agent. It is so because the act of the agent is the act of the principal
and therefore the principal is liable to third parties for the acts of the
minor agent. Of course, in appointing a minor or a person of unsound
mind as an agent, the principal runs a great risk because he cannot
hold such an agent liable for his misconduct or negligence.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
9. No consideration is necessary
“No consideration is necessary to create an agency”.
Section 184. The fact that the principal has agreed to be represented
by the agent is a sufficient detriment to the principal to support the
contract of agency, i.e. to support the promise by the agent to act in
that capacity.
It is to be noted, however, that a gratuitous agent is not bound to do
the work entrusted to him by his principal. But once he begins the
work, he is bound to complete it. Usually agent is paid remuneration
for his service.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
10. Kinds of Agents
1) General Agent: A general agent is one who is employed to do all
acts connected with a particular business or employment, e.g. a
manager of a firm.
2) Special Agent: A special agent is one who is employed to do
some particular act or represent his principal in some particular
transaction, e.g. an agent employed to sell a motor car. As soon
as the act is performed, the authority of such an agent comes to
an end.
3) Universal Agent: His authority is unlimited i.e. one who is
authorized to do all the acts which the principal can lawfully do
and can delegate. He enjoy extensive powers to transact every
kind of business on behalf of his principal.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
11. Another Classification - Kinds of Agents
1) Mercantile Agent: A mercantile agent is one who has authority
either to sell goods or to buy goods or to raise money on the
security of goods. The various kinds of mercantile agents are as
follows:
i. Factor: Entrusted for sale
ii. Commission agent: Receives commission for his labor
iii. Del Credere Agent: Occupies the position of a surety
as well as of an agent
iv. Broker: He makes contracts in the name of his
principal
2) Non- Mercantile Agent: They include advocates, attorneys,
insurance agents, wife etc.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
12. Creation of Agency
1) Agency by express agreement: By word of mouth or by agreement in
writing. However, in certain cases, e.g. execute a deed for sale or purchase
of land, the agent must be appointed by executing a formal ‘power of
attorney’ on a stamped paper.
2) Agency by implied agreement: Implied agency arises when there is no
express agreement appointing a person as an agent, but instead the
existence of agency is inferred from the circumstances of the case, or from
the conduct of the parties on a particular occasion or from the relationship
between parties. Such an agency may take the following forms.
i. Agency by estoppel
ii. Agency by holding out
iii. Agency by necessity
3) Agency by Ratification: Section 196
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
13. Agency by Estoppel
Such an agency is based on the doctrine of estoppel which may be briefly
stated thus, “where a person by his words or conduct has willfully led
another to believe that certain set of circumstances or facts exists, and that
other person has acted on that belief, he is estopped or precluded from
denying the truth of such statements, although such a state of things did
not in fact exist.”
Section 237 of the Contract Act, which deals with agency by estoppel, also
provides to the same effect. The section lays down that “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 such third person to believe that such acts
and obligations were within the scope of agent’s authority.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
14. Agency by Estoppel
We may sum up thus, an agency by estoppel is created when the alleged
principal by his conduct or by words spoken or written, leads willfully the
other contracting party into an honest belief that the supposed agent had
authority t act as such bind the principal. Such a principal will be estopped
from denying subsequently his agent’s authority, although the agent did not
in fact possess any authority whatsoever.
Example: A tells B in the presence and within the hearing of C that he is C’s
agent. C does not contradict this statement and keeps quiet. Later on B
enters into a transaction with A believing honestly that A is C’s agent. C is
bound by this transaction and he will be estopped from denying the
existence of agency, even though such an agency did not in fact exist.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
15. Agency by Holding Out
Such an agency is based on the doctrine of holding out which is a part of the
law of estoppel. In this case also the alleged principal is bound by the acts of
the supposed agent, if he has inducted third persons to believe that they
are done with his authority. But, unlike an agency of estoppel, an agency by
holding out required some affirmative or positive act or conduct by the
principal to establish agency subsequently. Thus, where an employer has
been accustomed to pay for goods bought on his behalf by his employer
from Galaxy4u, the employer may be liable for a purchase made in the
customary manner, even though it is made, by the employee fraudulently
after he has left the employment. The employer’s conduct in holding out his
employee to be his agent (paying for purchases made by the employee on
previous occasions) estops him from denying that his authority was not still
in existence.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
16. Agency by Necessity
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 of necessity. Bowstead has
rightly observed: “An agency by necessity is conferred by law in
certain cases, where a person is faced with an emergency in which
the property or interests of another are in imminent danger, and it
becomes necessary in order to preserve the property or interests, to
act before the instructions of the owner can be obtained. The law
assumes the consent of the owner to the creation of the relationship
of principal and agent.”
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
17. Agency by Ratification
Ratification means the subsequent adoption and acceptance of an act
originally done without instructions or authority. Thus where a principal
affirms or adopts the unauthorized act of his agent, he is said to have
ratified that act and there comes into existence an agency by ratification
retrospectively. Section 196, deals with the effect of ratification. It provides
that “where acts are done by one person on behalf of another, but without
his knowledge or authority, he may elect to ratify or to disown such acts. If
he ratifies them, the same effects will follow as if they had been performed
by authority.” By ratifying the unauthorized act of the agent, the principal
becomes bound by the act as if had been originally done by the authority.
Thus ratification amounts to prior authority. It relates back to the original
making of the contract. This means that the agency comes into existence
from the moment the agent acted and not from the time when the principal
ratified.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
18. Extent of Agent’s Authority
1) Actual authority: An agent can do all such acts as have been assigned
to him either expressly or impliedly and thereby bind the principal to
third parties by acts done within the scope of his actual or real
authority. The authority is said to be express when it is given by words
spoken or written. The authority is said to be implied when it is inferred
from the circumstances of the case or the ordinary course of dealings.
2) Ostensible or apparent authority: An agent can also bind the
principal to third parties by acts done within his apparent authority;
(although the act is in excess of his actual authority). Thus ‘actual’ and
‘apparent’ authority stands on the same footing. Ostensible authority
means an authority which the third parties dealing with the agent can
presume to be with the agent in relation to a particular business
ordinarily.
3) Authority in Emergency: Anything in emergency to save principal
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
19. Delegation of Authority
Section 190 provides that “an agent cannot lawfully employ another to
perform acts which he has expressly or impliedly undertaken to perform
personally, unless by the ordinary custom of trade a subagent may, or from
the nature of agency, a subagent must, be employed.” Accordingly an agent
cannot delegate his powers or duties to another without the express
authority of the principal, except in certain cases. This section is based on
the well-known maxim of Roman law, viz, “delegates nonpotest delegare”,
that is “a delegate cannot further delegate.” An agent, being himself the
delegate of his principal, cannot pass on that delegated authority to
someone else. As a rule, he must not depute another person to do that
which he has undertaken to do personally. The reason for this rule is that
confidence in the integrity and competence of a particular person is at the
root of a contract of agency.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
20. Delegation of Authority
But there are exceptions to this general rule. He can appoint sub-agent.
1)Where the principal has expressly permitted delegation of such power.
2)Where the principal has impliedly, by his conduct, allowed such delegation of
authority, e.g. where the principal knows that the agent intends to delegate his
authority but does not object to it.
3)Where by the ordinary custom of trade a subagent may be employed. Thus stock
exchange member brokers generally appoint clerks to transact business on behalf
of their clients.
4)Where the very nature of agency makes it necessary to appoint a subagent. For
example, a manager of a shop may employ sales assistant.
5)Where the acts to be done are purely ministerial and do not involve the exercise
of discretion, e.g. clerical or routine work.
6)Where unforeseen emergencies arise rendering appointment of the sub-agent
necessary.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
21. Sub-agent and consequences of
appointment of sub-agent
“A sub-agent is a person employed by, and acting under the control of, the
original agent in the business of the agency.” Thus a person employed by an
agent is called a sub-agent. A sub-agent acts under the control of the
original agent as for the relation in between themselves is that of agent and
principal. In other words the original agent acts as principal for the sub-
agent.
Consequences of the appointment of sub-agent. The legal effects of the
appointment of a sub-agent as between the principal and the sub-agent
inter se and as regards third parties depend upon whether the sub-agent
has been properly or improperly appointed.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
22. Sub-agent and consequences of
appointment of sub-agent
Where a sub-agent is properly appointed. In such a case, as per Section 192,
the following consequences emerge:
(1)The principal is bound and liable to third parties for the acts of the sub-
agent, as if he were an agent originally appointed by the principal.
(2)The agent is responsible to the principal for the acts of the sub-agent. For
example, if any moneys are due on the sub-agent, the agent is responsible for
same and the principal cannot sue the sub-agent on that account. It is so
because in the eye of law there is no privity of contract between the principal
and the sub-agent and therefore, in general, the principal cannot claim against
the sub-agent for negligence.
(3)The sub-agent is responsible for his acts to the agent and not to the
principal. But in case the sub-agent is guilty of fraud or willful wrong, he is
directly liable to the principal. In such a case the principal has the choice to sue
either the agent or the sub-agent.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
23. Where a sub-agent is improperly
appointed
Where the appointment of a sub-agent is made without authority and
without any justification, as per Section 193, the following consequences
arise:
(1)The principal is not represented by such sub-agent and hence is not liable
for the acts of the sub-agent.
(2)The agent is responsible for the acts of the sub-agent to the principal as
well as to the third parties.
(3)The sub-agent is not responsible to the principal at all. He cannot be held
liable by the principal even for fraud or willful wrong. He is responsible for
his acts only to the agent (his employer).
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
24. Section 194 - Substituted Agent
Accordingly, “When an agent has an express or implied authority of his
principal to name another person to act for the principal and the agent
names another person accordingly, such person is not a sub-agent but a
substituted agent of the principal in respect of the business which is
entrusted to him.” Thus an agent simply names or appoints a substituted
agent at the request of the principal and thereafter drops out altogether
from the scene. The substituted agent is directly responsible to the principal
and a privities of contract is deemed between him and the principal.
Example: You directs Galaxy4u, your solicitor, to sell your estate by auction
and to employ an auctioneer for the purpose. Galaxy4u names Avinash, an
auctioneer, to the conduct the sale, Avinash is not a sub-agent, but is your
agent for the conduct of the sale.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
25. Duties of Agent
1) Duty to follow principal’s directions or customs (Section 211)
2) Duty to carry out the work with reasonable skill and diligence (Section
212)
3) Duty to render accounts (Section 213)
4) Duty to communicate (Section 214)
5) Duty not to deal on his own account (Section 215-216)
6) Duty not to make any profit out of his agency except his remuneration
(Section 217-218)
7) Duty on termination of agency by principal’s death or insanity (Section
209)
8) Duty not to delegate authority (Section 190)
Example: You directs Galaxy4u, your solicitor, to sell your estate by auction
and to employ an auctioneer for the purpose. Galaxy4u names Avinash,
an auctioneer, to the conduct the sale, Avinash is not a sub-agent, but is
your agent for the conduct of the sale.Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
26. Principal’s Liability for the acts of the
Agent
The extent of principal’s liability to third parties for the acts of the agent is
determined by the following rules.
(1)When agent acts within the scope of his actual and apparent authority.
(2)When agent exceeds his actual as well as apparent authority.
(3)Liability of agent’s misrepresentation or fraud.
(4)Notice given to agent as notice to principal.
(5)Liability based on the doctrine of estoppel.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
27. Termination of Agency
An agency may be terminated in any of the following ways:
1)By act of the parties
i. Agreement
ii. Revocation by the principal
iii. Renunciation by the agent
2)By operation of law
i. Completion of business of agency
ii. Expiry of time
iii. Death of the principal or the agent
iv. Insanity of the principal or the agent
v. Insolvency of the principal
vi. Destruction of the subject matter
vii. Dissolution of the company
viii. Principal and agent becomes alien enemy
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
28. Galaxy4u: We do Legal Translations!Galaxy4u: We do Legal Translations!
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
29. Contact in Confidence!
Q & A
Doubt is the key to knowledge!
Faculty: Avinash MurkuteAvinash Murkute
LLM International Laws
Galaxy4u, Pune – 412 115 India
Mobile: +91-9822698070, +91-9637796308
E-mail: avinash@murkute.com | avinash@galaxy4u.in
Web: www.Galaxy4u.in
------------------------------------------------------------
Disclaimer: Refer the official publications. This presentation and illustrations is just an
introduction for legal awareness purposes only.
Avinash Murkute | Galaxy4u | Pune | M: 9822698070 | E: avnash@galaxy4u.in
Editor's Notes
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Marriage Bureaus, Registration of Marriages
Marriage, Registrar, Registrar General, Marriage Bureau
Registration of Marriage Bureaus
Registration of Marriages and Certificate of Registration of Marriage
Registration of Marriages and Certificate of Registration of Marriage
Registration of Marriages and Certificate of Registration of Marriage
Registration of Marriages and Certificate of Registration of Marriage
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India
Galaxy4u is Numero Uno Legal Translation Agency in Pune, Maharashtra, India