A conceptual note on the modes of termination of agency - Indian Contract Act, 1872
A CONCEPTUAL NOTE ON THE MODES OF TERMINATION OF AGENCY
CONTENTS
CHAPTER 1: Introduction
1.1 Research Problem
1.2 Literature Review
1.3 Scope and Objectives
1.4 Research Questions
1.5 Research Methodology
CHAPTER 2: Modes of termination of agency: A Synopsis
CHAPTER 3: Effects of termination of agency: A Discussion
CHAPTER 4: Duty of agent on termination of agency
CHAPTER 5: Conclusion
Bibliography
CHAPTER 1: INTRODUCTION
‘’Agent’’ and ‘’principal’’ are defined in Section 182 of the Indian Contract Act, 1872 in the following words:
182."Agent" and "principal" defined.-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 so represented, is called the "principal".
The expression agency is used to connote the relation which exists where one person has an authority or capacity to create legal relations between a person occupying the position of principal and third parties.1
Section 201 talks about the ways in which the relationship of principal and agent may end.
201. Termination of agency.-An agency is terminated by the principal revoking his authority; or by the agent renouncing the business of the agency; or by the business of the agency being completed; or by either the principal or agent dying or becoming of unsound mind; or by the principal being adjudicated an insolvent under the provisions of any Act for the time being in force for the relief of insolvent debtors.
The section provides for the following modes of termination:
1. Revocation;
2. Renunciation by agents;
3. Completion of business;
4. Principal or agent’s death;
5. Principal or agent becoming person of unsound mind;
6. Insolvency of principal;
7. Expiry of time.
According to Section 203 of The Indian Contract Act, 1872, the principal may revoke his agency’s authority and thus put an end
CONTENTS
CHAPTER 1: Introduction
1.1 Research Problem
1.2 Literature Review
1.3 Scope and Objectives
1.4 Research Questions
1.5 Research Methodology
CHAPTER 2: Modes of termination of agency: A Synopsis
CHAPTER 3: Effects of termination of agency: A Discussion
CHAPTER 4: Duty of agent on termination of agency
CHAPTER 5: Conclusion
Bibliography
CHAPTER 1: INTRODUCTION
‘’Agent’’ and ‘’principal’’ are defined in Section 182 of the Indian Contract Act, 1872 in the following words:
182."Agent" and "principal" defined.-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 so represented, is called the "principal".
The expression agency is used to connote the relation which exists where one person has an authority or capacity to create legal relations between a person occupying the position of principal and third parties.1
Section 201 talks about the ways in which the relationship of principal and agent may end.
201. Termination of agency.-An agency is terminated by the principal revoking his authority; or by the agent renouncing the business of the agency; or by the business of the agency being completed; or by either the principal or agent dying or becoming of unsound mind; or by the principal being adjudicated an insolvent under the provisions of any Act for the time being in force for the relief of insolvent debtors.
The section provides for the following modes of termination:
1. Revocation;
2. Renunciation by agents;
3. Completion of business;
4. Principal or agent’s death;
5. Principal or agent becoming person of unsound mind;
6. Insolvency of principal;
7. Expiry of time.
According to Section 203 of The Indian Contract Act, 1872, the principal may revoke his agency’s authority and thus put an end
Bibliography: Books: Bhadbhade Nilima, Pollock F. and Mulla D. F., Pollock and Mulla Indian Contract and Specific Relief Acts, 13th edition, 2010, LexisNexis ButterworthsWadhwa, Nagpur. Bhadbhade Nilima, Pollock F. And Mulla D.F., Pollock and Mulla Indian Contract Act 1872, 14th Edition, 2012, Lexisnexis Butterworthswadhwa, Nagpur. Bangia. R.K., contract-II, 9th edition, 2012, Allahabad Law Agency, Allahabad. Singh Avtar, Contract and Specific Relief, 11th Edition, 2013, Eastern Book Company, Lucknow. Web Source: http://www.isca.in/IJSS/Archive/v2/i11/10.ISCA-IRJSS-2013-108.pdf