THE INDIAN CONTRACT ACT, 1872

Extent of agent’s authority An agent, having an authority to do an act, has authority to do every lawful thing which is necessary in order to do such act. An agent having an authority to carry on a business, has authority to do every lawful thing necessaryfor the purpose, or usually done in the course, […]

Definitions of express and implied authority An authority is said to be express when it is given by words spoken or written. An authority is said to be implied when it is to be inferred from the circumstances of the case; and things spoken or written, or the ordinary course of dealing, may beaccounted circumstances

Agent’s authority may be expressed or implied The authority of an agent may be expressed or implied Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit |

Consideration not necessary No consideration is necessary to create an agency. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax

Who may be an agent. As between the principal and third persons, any person may become an agent, but no person who is not of the age of majority and of sound mind can become an agent, so as to be responsible to his principal according to the provisions in that behalf herein contained. Practice

Who may employ agent Any person who is of the age of majority according to the law to which he is subject, and who is of sound mind, may employ an agent. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST

“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”. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing

Apportionment of relief or compensation obtained by such suits —Whatever is obtained by way of relief or compensation in any such suit shall, as between the bailor and the bailee, be dealt with according to their respective interests Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal

Suit by bailor or bailee against wrong-doer —If a third person wrongfully deprives the bailee of the use or possession of the goods bailed, or does them any injury, the bailee is entitled to use such remedies as the owner might have used in the like case if no bailment had been made; and either

Pledge where pawnor has only a limited interest Where a person pledges goods in which he has only a limited interest, the pledge is valid to the extent of that interest. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration