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Section 202 - Termination of agency, where agent has an interest in subject-matter, Section 203 - When principal may revoke agent's authority : Indian Contract Act 1872

 

How to do Termination of agency, where agent has an interest in subject-matter? When principal may revoke agent's authority? Section 202 and 203 of Indian Contract Act 1872

Section 202 of Indian Contract Act 1872 : "Termination of agency, where agent has an interest in subject-matter"

202. Where the agent has himself an interest in the property which forms the subject-matter of the agency, the agency cannot, in the absence of an express contract, be terminated to the prejudice of such interest.

Illustrations
(a) A gives authority to B to sell A's land, and to pay himself, out of the proceeds, the debts due to him from A. A cannot revoke this authority, nor can it be terminated by his insanity or death.

(b) A consigns 1,000 bales of cotton to B, who has made advances to him on such cotton, and desires B to sell the cotton, and to repay himself, out of the price the amount of his own advances. A cannot revoke this authority, nor is it terminated by his insanity or death.

Section 203 of Indian Contract Act 1872 : "When principal may revoke agent's authority"

203. The principal may, save as is otherwise provided by the last preceding section, revoke the authority given to his agent at any time before the authority has been exercised so as to bind the principal.

 

INDIAN CONTRACT ACT 1872

Section 186 - Agent's authority may be express or implied

Section 187 - Definitions of express and implied authority

Section 188 - Extent of agent's authority

Section 189 - Agent's authority in an emergency

Section 190 - When agent cannot delegate

 

 

Sub-agents

Section 191 - Sub-agent defined

Section 192 - Representation of principal by sub-agent properly appointed

Section 193 - Agent's responsibility for sub-agent appointed without authority

Section 194 - Relation between principal and person duly appointed by agent to act in business of agency

Section 195 - Agent's duty in naming such person

 

 

Ratification

Section 196 - Right of person as to acts done for him without his authority

Section 197 - Effect of ratification Ratification may be expressed or implied

Section 198 - Knowledge requisite for valid ratification

Section 199 - Effect of ratifying unauthorized act forming part of a transaction

Section 200 - Ratification of unauthorized act cannot injure third person

 

 

Revocation of Authority

Section 201 - Termination of agency

Section 202 - Termination of agency, where agent has an interest in subject-matter

Section 203 - When principal may revoke agent's authority

Section 204 - Revocation where authority has been partly exercised

Section 205 - Compensation for revocation by principal, or renunciation by agent

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