A agrees to pay B a sum of money if B marries C, C marries D. For example, an agent appointed to purchase goods for his principal from a supplier obtains secret monetary benefit from the supplier for placing purchase orders with the supplier. When principal may revoke agent's authority. Introduction The paper discusses the characteristics and the role of an agent under the Indian Contract Act, 1872. Here, the promise of each party is the consideration for the promise of the other party.
Agent to be indemnified against consequences of lawful acts. The bills of lading are void as between B and the pretended cosignor. In this class of labour the contractors hire men contract labour who do the work on the premises of the employer, known as the principal employer but are not deemed to be the employees of the principal employer. A builds the house so badly that, before the first of January, it falls down and has to be re-built by B, who, in consequence, loses the rent which he was to have received from C, and is obliged to make compensations to C for the breach of his contract. If he purports to appoint an agent,not only is the appointment itself void,but everything done by the agent on behalf of the infant is also void and incapable of ratification.
Agent's right of retainer out of sums received on principal's account. This is a contingent contract. A is not bound to make compensation to B for the loss of the profits which B would have made if A had been able to sing, but must refund to B the 1,000 rupees paid in advance. The sale is voidable at the option of A. On the sixth night, A wilfully absents herself from the theatre, and B, in consequence, rescinds the contracts.
B omits to supply the timber. He actually charged the premium for insurance,but failed to insure the goods. Likewise principal also has certain duties such as payment of agent, indemnification of agent. B defends the suit, and is compelled to pay damages and costs, and incurs expenses. Illustration A directs B, his agent, to buy a certain house for him. B allows C, a member of his family, to ride the horse. He is bound to pay A for them.
Consideration 2 d :- When at the desire of the promisor, the promisee or any other person has done or abstained from doing or does or abstains from doing or promises to do or to abstain from doing something such act or abstinence or promise is called a consideration for the promise. Agent's duty to communicate with principal. There are certain duties of agents such as execution of instructions, exercise of skill and care, act in good faith etc. B defends, but unsuccessfully, and has to pay damages and costs and incurs expenses. Firstly, the research paper focuses on the need of Standard Form Contracts and its justification. B may purchase timber and other materials, and hire workmen, for the purpose of carrying on the business. The principal has to pay or where necessary indemnify the agent for the services rendered or expenses incurred respectively.
A is acting as agent for C in the transaction, but B has no knowledge nor reasonable ground of suspicion that such is the case. The competent agent is legally capable of acting for this principal vis-à-vis the third party. His consent may also be implied from the conduct of the parties. The following situations require more discussion: i. The payment is good as against D, the executor. Notice of revocation or renunciation.
The agent has also to show how the terms of the relevant transaction compare to similar transactions in the market. It has been felt, and rightly too, that the execution of a work on contract through a contractor who deployed the contract labour was to deprive the labour of its due wages and privileges of labour class. Who may be an agent. A rides with due care, but marches to Cuttack instead. He owes B no other debt of that amount.
The contract cannot be enforced by law unless and until C refuses to buy the horse. A may repudiate the whole transaction. The estate is subject to a mortgage. This resulted in final acceptance of the first offer in ignorance of the second. In contracts of agency, there exists a legal relationship between two people where one person acts on behalf of the other.
A and B make a joint and several promissory note to C. This gives a unique opportunity to the giant company to exploit the weakness of the individual by imposing upon him terms, which may go to the extent of exempting the company from all liability under contract. Here, the promise of each party is the consideration for the promise of the other party, and they are lawful considerations. A guarantee may be either oral or written. A fiduciary duty exists because agency is a relationship of trust and confidence. This is a valid contract to deliver rice, and a void agreement as to the opium. A is discharged from his suretyship by the variance made without his consent, and is not liable to make good this loss.