X Ltd has two directors, Jai and Harish. Neither of the directors have authority to individually enter contracts on behalf of the company. In practice, Jai (with Harish’s acquiescence) enters into all the contracts on behalf of the company. What type of agency has been created when a third party acting in good faith enters into a contract with Jai who states he is acting on behalf of X Ltd?
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Pranab asked his agent, Hari to purchase her 500 shares in X Ltd. Hari owned 600 shares in X Ltd., so without informing Pranab where the shares come from he sells his shares to Pranab at market value. Is Hari in breach of his agency duties?
An agency relationship which is made retrospectively is know as an agency by:
Cute appoints Govind, to act as his agent for two weeks. Govind agrees to act without payment. Cute instructs Govind to collect rent each Friday morning from his tenants and pay the rent into the bank next door. In the second week, Govind collects the rent but fails to bank it. On the way home he leaves it on the bus and it is never recovered. Can Cute take action against Govind for breach of his agency duties?
Fakir enters into a contract with Shilpa believing that Shilpa is acting on her own behalf when in fact she is acting as an agent for Dipak on his express instructions. In the event of a breach of contract, against whom Fakir take action?
A, an agent engaged in carrying on for B a business, in which it is the custom to invest from time-to-time, at interest, the moneys which may be in hand, omits to make such investments.
Termination of an agency with public authority or a public body may attract judicial intervention in writ petition:
The extent of an agent’s authority, whether express or implied, depends upon:
In case the contract of agency has been terminated and a third party enters into a contract with the agent without knowing this fact, then
A, an agent for the sale of goods, having authority to sell on credit, sells to B on credit, without making the proper and usual inquires as to the solvency of B. B at the time of such sale is insolvent.
The agency extends to receiving notice on behalf of his principal of whatever is material to be stated in the course of the proceedings. For this rule to operate:
I. the agent must be under a duty to communicate
II. the information must be material
III. it must have been obtained in the course of business for which the agent has been engaged
IV. the agent is not privy to a fraud on the principal
The doctrine of apparent authority applies:
I. where a person allows another who is not his agent to appear as his agent
II. where a principal allows his agent to appear to possess more authority than he actually has
III. where the principal reserves or limits the authority of an agent which the agent would have in ordinary course of business, but does make this known to third parties
IV. where the principal allows it to appear that the agent has authority although his authority has been terminated
51 videos|110 docs|57 tests
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51 videos|110 docs|57 tests
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