This document contains information about an individual named P. Divya Bharathi with roll number 18UR55 in B.Com 2nd year class. It then defines an agent as a person who acts on behalf of another and discusses the various duties an agent owes to their principal. It proceeds to classify agents into special, general, and universal agents based on their scope of authority and nature of work. It also distinguishes between mercantile and non-mercantile agents, providing examples of different types of agents such as factors, auctioneers, brokers, bankers, and del credere agents. The document concludes by discussing sub-agents and substituted agents.

1. • Name : P. Divya Bharathi
• Roll No : 18UR55
• Class : B.Com 2yr

2. • A Person who acts on behalf of another
person or group.
• A Person or thing that takes an active role
or produces a specified effect.
• An agent owes a number of duties of his
principal, which vary in degree according
to the nature of agency.

3. •According to their scope of
authority
•According to the nature of the
work performed
•According to the nature of the
appointment

4. • Special agent
• General agent
• Universal agent
• Special agent: eg : An agent appointed to sell a house.
• General agent: eg: 1. An agent appointed for the
distribution of fertilizers in a district. 2. Appointing agent
as a manger of a business.
• Universal agent: Vested with unlimited power.

5. • Mercantile or Commercial Agent
• Non – Mercantile agent
• Mercantile agent

6. • Factor
• Auctioneer
• Broker or Comission agent
• Banker
• Del Credere agent

7. • Wife
• Attorney
• Solicitor – is an agent of senior lawyer
• Insurance agent
• Clearing and Forwarding agent may be , 1.
General 2. Special 3. Mercantile & 4. Non
mercantile.

8. • An agent who has authority to do
all transtions relating to do all
transactions relating to a particular
trade or business.
• Eg: Manger of a firm is called a general agent.

9. • An agent who is appointed to do a
special act is known as special
agent.
• Eg: An agent appointed to sell a house. He has only
limited authority.

10. • Auctioneer: He is an agent appointed by the seller to sell
goods by public auction for a commission. He is entrusted with
the possession of goods and has authority to delivery them on
payment of price.
• Factor: He is a mercantile agent entrusted with the
possession of goods. He has the authority to sell or buy goods
or raise money on the security of goods. He can also exercise
general lien on the goods in respect of his claims arising out of
the agency.
• Broker: He is a mercantile agent employed to make contracts
with other parties for the sale and purchase of goods and
securities for a commission called “Brokerage”. He is not given
the possession of goods and therefore.

11. • Del credere agent: He is agent, for an extra
remuneration, guarantees to his principal against losses
arising from the failure of a person with whom he
contracts on behalf of the principal.
• Bankers: He is an agent of his customer when he buys
or sells securities, collect cheques, bill etc.. Of them.
• Commission agent: He is an agent employed to buy or
sell goods or transact business for a remuneration called
commission.

12. • Sub agent
• Substituted agent
• Sub agent:
The general principal is “Delegatus non
protest i.e., a delegatee cannot further delegate, so an
agent cannot further delegate his power to other person.
But he can appoint sub agent if principal permits. But under
the following circumstances sub agent can be appointed
without the permission of principal (sec,190)

13. • Nature of the work
• Routine work requiring no skill
• Customs of trade / emergency time
• No objection from principal, who is aware of it
• Relationship between principal and sub agent:
The effects of sub agency is to be seen from
two different aspects. 1. A sub agent may be appointed by
the agent properly i.e., in cases in which he is entitled
under Sec.190 to make the appoint, or 2. Improperly i.e.,
without legal justification for such appointment.

14. He is a co agent. He is named by the agent holding
an expressed or implied authority from the principal to act
for the principal to act for the principal.
Example: A directs B, his solicitor to sell his estate by
auction, and to employ an auctioneer for the purpose. B
named C, auctioneer, to conduct the sale. C is a
substituted agent of A He is as agent for the purpose of
conducting the sale by aution.