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    Contract of Agency: Submitted To

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    Tamim Rahman
    The document summarizes the key aspects of a contract of agency under Indian law. It discusses how an agency relationship is created through express, implied, or necessity of authority. It also outlines the competency requirements to be an agent, such as being of sound mind and legal age. Finally, it notes that while consideration is not required to create an agency, agents are generally expected to be paid for their services.

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    Contract of Agency: Submitted To

    Uploaded by

    Tamim Rahman
    22 views3 pages
    The document summarizes the key aspects of a contract of agency under Indian law. It discusses how an agency relationship is created through express, implied, or necessity of authority. It also outlines the competency requirements to be an agent, such as being of sound mind and legal age. Finally, it notes that while consideration is not required to create an agency, agents are generally expected to be paid for their services.

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    AGENT

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    The document summarizes the key aspects of a contract of agency under Indian law. It discusses how an agency relationship is created through express, implied, or necessity of authority. It also outlines the competency requirements to be an agent, such as being of sound mind and legal age. Finally, it notes that while consideration is not required to create an agency, agents are generally expected to be paid for their services.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    22 views3 pages

    Contract of Agency: Submitted To

    Uploaded by

    Tamim Rahman
    The document summarizes the key aspects of a contract of agency under Indian law. It discusses how an agency relationship is created through express, implied, or necessity of authority. It also outlines the competency requirements to be an agent, such as being of sound mind and legal age. Finally, it notes that while consideration is not required to create an agency, agents are generally expected to be paid for their services.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Course code: BUS 361

    Section: 01

    Submitted to
    Fariha Abedin
    Senior Lecturer
    Department of Law
    East West University
    Report On:
    Contract of Agency

    Submitted by
    Tamim Rahman
    ID: 2017-3-10-011
    INTRODUCTION: Section- 182 of the Contract Act, 1872 states that an agent is employed to
    do any act to represent principle in dealings with third person regarding business or other
    activities. The contract which creates this relationship between a principal and an agent is the
    contract of agency.
    Related case: Carr v. Hunt (Dallas 1983)
    Illustration: Suppose “A” has a manufacturing company in Bangladesh and through “B” a is
    doing all the sales around Bangladesh. Over here “B” is an agent of ‘A’. real estate agent,
    securities agent, insurance agent also falls under this category.
    Types of agency:
     By express authority: A contract of agency can be made orally or in writing. Example of
    a written contract of agency gives a right to an agency to act on behalf of his principal in
    according to terms and conditions. If agent acts outside the scope of his given powers, the
    agent will be liable for any losses.
     By implied authority: It is an authority that is neither express or written into a contract,
    but it is authority an agent is considered to have in order to transact the business for his
    principal. For example, an agent can odder goods from a third party on behalf of the
    principle.
    Related Case: Chan Yin Tee v William Jacks and Co.
     By necessity: The origins of the doctrine of necessitous by a person to act on behalf of
    the principal without receiving authorization by in an urgent situation, for example, if a
    person gets lunatic his family member or lawyer can take decisions on behalf of him.
    Related case: Great Northern Railway Co v Swaffield
    Competency of being an agent:
     Sound mind of age: Section 183, states that, any person who is of the age of majority
    and sound minded can be employed as an agent. These two elements are a necessity
    because an agent has to answer to the Principal for his activities. Agents rational
    judgment has a huge impact on principle.
    Related Case: K.S. Ramachandra Rao vs state of A. Pradesh (2009)
     Unsound minded and Minor Agent: Section 184 states that, a minor or unsound
    minded can also become and agent. But, in this case a principle has to bear a risk.
    Because he will be liable of agent’s activity. For example: A lunatic patient, who has at
    intervals of sound mind. And during that unsound interval period if we make any agency
    contract, for any un rational judgement the principle will be liable.
    Related Case: Madon Gopal V/S Hindu Biscuit
     Consideration: Section 185 states that “Consideration not necessary”. No consideration
    is necessary to create an Agency”. An agent can do any activities on principle as a gift,
    charity, favor, Bailment and in good will. Even without an expression of consideration
    agents are expected to get paid for the performance of service.
    Related Case: Kuthari Carpet V/s Income tax officer (1984)

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