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Judiciary Exams Exam  >  Judiciary Exams Tests  >  Test: Rights and Duties in an Agency under Indian Contract Act - Judiciary Exams MCQ

Test: Rights and Duties in an Agency under Indian Contract Act - Judiciary Exams MCQ


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10 Questions MCQ Test - Test: Rights and Duties in an Agency under Indian Contract Act

Test: Rights and Duties in an Agency under Indian Contract Act for Judiciary Exams 2024 is part of Judiciary Exams preparation. The Test: Rights and Duties in an Agency under Indian Contract Act questions and answers have been prepared according to the Judiciary Exams exam syllabus.The Test: Rights and Duties in an Agency under Indian Contract Act MCQs are made for Judiciary Exams 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Rights and Duties in an Agency under Indian Contract Act below.
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Test: Rights and Duties in an Agency under Indian Contract Act - Question 1
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What type of agent is authorized to perform all acts related to a specific job according to the provisions of the Indian Contract Act?

Detailed Solution for Test: Rights and Duties in an Agency under Indian Contract Act - Question 1
In the framework of the Indian Contract Act, a General Agent is authorized to perform all acts related to a specific job on behalf of the principal. General Agents have broader authority compared to Special Agents, as they can undertake a range of activities within the scope of their assigned responsibilities.
Test: Rights and Duties in an Agency under Indian Contract Act - Question 2
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What is one of the rights of an agent as outlined in the Indian Contract Act?

Detailed Solution for Test: Rights and Duties in an Agency under Indian Contract Act - Question 2
One of the rights of an agent as per the Indian Contract Act is the "Right to Receive Remuneration." This means that an agent has the right to receive payment for the services they provide. In case of misconduct, the agent may not be entitled to remuneration for that specific part of the business. This right ensures that agents are compensated for their work and incentivized to carry out their duties effectively.
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Test: Rights and Duties in an Agency under Indian Contract Act - Question 3
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What does the "Right of Lien" entail for an agent according to the Indian Contract Act?

Detailed Solution for Test: Rights and Duties in an Agency under Indian Contract Act - Question 3
The "Right of Lien" for an agent under the Indian Contract Act allows them to retain the principal's goods, papers, and other property until they receive the due amount for commission, disbursements, and services rendered. This right serves as a form of security for the agent to ensure that they are compensated for their work before releasing the principal's property back to them. It helps safeguard the agent's interests in cases where payment is due.
Test: Rights and Duties in an Agency under Indian Contract Act - Question 4
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What right ensures that an agent can withhold the principal's goods, papers, and property until they receive the due amount for commission, disbursements, and services?
Detailed Solution for Test: Rights and Duties in an Agency under Indian Contract Act - Question 4
The right of lien allows an agent to retain the principal's goods, papers, and other property until they receive the due amount for commission, disbursements, and services. This right serves as a form of security for the agent to ensure that they are compensated appropriately for their services.
Test: Rights and Duties in an Agency under Indian Contract Act - Question 5
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When can an agent claim compensation for injuries resulting from the principal's negligence or lack of skill?
Detailed Solution for Test: Rights and Duties in an Agency under Indian Contract Act - Question 5
An agent can claim compensation for injuries resulting from the principal's negligence or lack of skill. This compensation is the principal's obligation to the agent for any harm caused due to their negligence or lack of skill. It ensures that agents are protected and fairly compensated for any losses they may incur while acting on behalf of the principal.
Test: Rights and Duties in an Agency under Indian Contract Act - Question 6
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What duty must an agent fulfill according to the Indian Contract Act when requested by the principal?
Detailed Solution for Test: Rights and Duties in an Agency under Indian Contract Act - Question 6
According to the Indian Contract Act, one of the duties of an agent is to provide accurate accounts to the principal when requested. This duty ensures transparency and accountability in the business relationship between the agent and the principal, allowing the principal to have a clear understanding of the financial aspects of the agency's operations.
Test: Rights and Duties in an Agency under Indian Contract Act - Question 7
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What is an agent's duty when conducting the principal's business in relation to making secret profits?
Detailed Solution for Test: Rights and Duties in an Agency under Indian Contract Act - Question 7
An agent is obligated not to make secret profits while conducting the principal's business. If an agent gains any secret profits without the principal's knowledge, it is their duty to disclose these profits to the principal. This ensures transparency and upholds the agent's fiduciary responsibility to act in the best interests of the principal. In the case of undisclosed profits, the principal is entitled to claim these benefits resulting from such transactions, as it falls under the agency relationship's ethical and legal obligations.
Test: Rights and Duties in an Agency under Indian Contract Act - Question 8
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What is an agent's responsibility regarding the duty to communicate with the principal in challenging circumstances?
Detailed Solution for Test: Rights and Duties in an Agency under Indian Contract Act - Question 8
An agent is required to make diligent efforts to communicate with the principal, especially in challenging circumstances, to seek instructions and provide updates as necessary. Effective communication is vital in ensuring that the principal remains informed about the progress and challenges faced in the business conducted on their behalf. By maintaining open and timely communication, the agent can receive guidance from the principal, address any issues promptly, and ultimately fulfill their duties effectively within the scope of the agency relationship.
Test: Rights and Duties in an Agency under Indian Contract Act - Question 9
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What is one of the key implications regarding the liability of an agent when entering into a contract on behalf of the principal?
Detailed Solution for Test: Rights and Duties in an Agency under Indian Contract Act - Question 9
When an agent acts within their authority to create rights and liabilities of a contract for the principal, they usually do not bear personal liability for that contract. This principle is essential in business transactions and legal relationships where agents act on behalf of their principals. It ensures that the agent, when acting within their scope of authority, does not incur personal legal responsibility for contracts made on behalf of the principal. This separation of liabilities helps clarify the roles and responsibilities of agents and principals in contractual agreements, safeguarding the agent from personal legal repercussions related to contracts made for the principal's benefit.
Test: Rights and Duties in an Agency under Indian Contract Act - Question 10
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How are contracts made through an agent and resulting obligations typically enforced?
Detailed Solution for Test: Rights and Duties in an Agency under Indian Contract Act - Question 10
Contracts made through an agent and the obligations that stem from the agent's actions can generally be enforced in the same way as if the principal had directly entered into the contracts or undertaken the actions themselves. This legal principle ensures that agreements facilitated by agents on behalf of principals maintain the same enforceability and validity as if the principal had conducted the transactions personally. By upholding this concept, legal systems provide a framework for the effective enforcement of contracts made through authorized agents, thereby recognizing and reinforcing the agency relationship established between the parties involved.
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