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Business Regulatory Framework by Purnakam Dash

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14

Agency

CHAPTER OBJECTIVES

After carefully reading this chapter, you will be able:

  • To understand the Concept of Agency and the various types of agents.
  • To describe the various ways of creating an agency.
  • To get a clear idea about, who can be an agent and who can appoint an agent.
  • To explain, what happens when an agent exceeds his authority.
  • To enumerate, the rights and duties of the agent and the principal.
  • To identify the cases, where the agent becomes personally liable.
  • To distinguish between a sub-agent and a co-agent.
  • To explain the meaning of pretended agent and an agent having a undisclosed principal.
  • To identify the various ways of terminating an agency.
MEANING AND DEFINITION

Sometimes, a person is unable to attend to all matters ...

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