INDIAN CONTRACT ACT 1872
Moughera Waqas
Agency
A (name of) relationship between the principal and the agent, i.e. the ‘contract of agency’
Agency (sec. 182)
An agent is a person employed to do any act for another or to represent another in dealings with third person
Parties
i.Agent (person employed to do any act on behalf of another, or to represent employer)
ii.Principal (for whom the act is done and who is represented by the agent)
Types of agency
i.General (authorization to do any at concerning a particular business/trade)
ii.Special (authorization to do any specific act concerning the business/trade or any specific contract)
Essentials
i.Agreement (sec. 184, express or implied)
ii.Legal relation (must create legal relation, except the domestic and social agreements)
iii.Competent to contract (sec. 185, principal must be major, sound mind rather that the agent may or may not be a minor, unsound mind creating the liability on the principal)
iv.Consideration (sec. 185, consideration is not a necessity)
v.Intent (agent must be intent to act on behalf of the principle)
Types of Agents
i.General (is appointed to do all the transactions concerning the business)
The Term Paper on Social Contract 2
Is the aim of the social contract to establish freedom, equality or merely ‘peace’? How far is it successful, and at what cost? (Hobbes, Locke, Rousseau) The Social Contract is a theory that originated during the Enlightenment, which addresses the questions of the origin of society and the legitimacy of the authority of the state over the individual. Social contract arguments typically posit that ...
ii.Special (has a limited authority within a specific business/trade)
iii.Universal (all the legal powers are transferred to the agent from the principal, to do business on his behalf)
iv.Broker (buys and sells goods without taking their possession, receives brokerage)
v.Commission agent (purchases the goods in foreign market as well as domestic market on a prefixed rate of commission)
vi.Del credere agent (gives the surety to the principal for the third party in case of a credit transaction)
vii.Auctioneer (sells goods at public auction, receives the possession of the goods, has the right of lien)
viii.Banker (sale and purchase of the securities, collection of cheques, bills of exchange and dividend etc)
ix.Co-agent (appointment of two or more agents for the same principal)
x.Sub-agent (employed and acting under the original agent, liable to the agent not the principal except of fraud)
xi.Substituted (the appointed agent in the place of original agent)
xii.Indenter (purchases and sells on behalf of principal from foreign country)
xiii.Mercantile agent (can buy and sell sureties to raise money, pledge the goods, documents, authorised by the principal)
Creation/Confirmation of Agency
i.By express agreement (sec. 186, through word spoken or written)
ii.By implied agreement (according to the circumstances and according to the act done by the parties)
a.through estoppel (sec. 237, stopping the principal from denying the fact of the agency)
b.through holding out (act done on the basis of prior but expired information of agency)
c.through necessity (emergencies, safety of principal, husband and wife)
iii.Through the ratification (sec. 196, if the act done comes to the knowledge of the principal at a later stage he reserves the right of election)
iv.Through the operation of law (under partnership act 1932)
Termination (Discharge) of agency
i.Revocation by principal
ii.Revocation by agent
iii.Destruction of subject matter
iv.Mutual consent
v.Death (sec. 209, by the death of the either party i.e. principal or agent)
The Research paper on A Few Good Men Case Analysis
Lieutenant Junior Grade Daniel “Danny” Kaffee (Tom Cruise), is an inexperienced U.S. Navy Judge Advocate General’s Corps lawyer who leads the defense in the court-martial of two Marines, Private First Class Louden Downey (James Marshall) and Lance Corporal Harold Dawson (Wolfgang Bodison), who are accused of murdering a fellow Marine of their unit, PFC William Santiago (Michael ...
vi.Insanity (by the insanity of the either party)
vii.Insolvency of principal (termination in case of insolvency of principal but no effect in case of insolvency of agent)
viii.Alien enemy
ix.Winding up the company
x.Completion of job
xi.Illegal contract
xii.Termination of authority (giving up the authority by the agent through reasonable means)
xiii.Expiry of period (201-211)
Rights of agent
i.Right of remuneration (sec. 219, no remuneration in case of misconduct sec. 220)
ii.Right of compensation (sec. 225, due to the negligence of the principle)
iii.Right of indemnity (sec. 222, against all the consequences of lawful acts done on behalf the principal)
iv.Agent’s right in case of fraud (same as misrepresentation)
v.Right of retainer (sec. 217, agent can retain goods until paid)
vi.Right of stoppage of goods in transit (has the right for the stoppage of goods like unpaid seller)
vii.Right of compensation done in good faith (sec. 23, it should be lawful)
viii.Right of lien (sec. 221, can retain the goods, papers and other property until, unless paid)
Duties of agent
i.Conduct business (sec. 211, )
ii.Use of skill and knowledge (sec. 212)
iii.Render accounts (sec. 213)
iv.Communication with the principle (sec. 214)
v.Separation of personal property
vi.Payment of accounts (sec. 218)
vii.Duty in case of death of principal
viii.Duty not to appoint the sub-agent
ix.Prior approval for the use of his personal name
Agency 182 (Chapter Summary)
i.Express agreement 186
ii.Expiry of period 201-211
iii.Duty to conduct business 211
iv.Business with skill and knowledge 212
v.Render accounts 213
vi.communication with principal 214
vii.Payment of dues 218
viii.Death of agent or principal 209
ix.Right of retainer 217
x.Right of remuneration 219
xi.Right of lien 221
xii.Right of indemnity 222
xiii.Compensation against an act done in good faith 223
xiv.Right of compensation 225
xv.Agency by Estoppel 237
