Tag: principal-agent

Termination of Agency under Contract Act

By Simran, CNLU, Patna Editor’s Note: The contract of agency is defined as one where one party-the principal, grants authority to another party- the agent, to act on behalf of and under the control of the principal to deal with a third party. An agency relationship is fiduciary in nature. An agency can be created by express or implied appointment, necessity or estoppel. There are certain duties that the parties owe each other. Since the relationship of agency is one that is based on trust, there […]