Chapter 4: Law of agency

Who can be a principal as accordance to Section 136 of Contracts Act 1950?

• minor and soundmind

• adult and soundmind

• minor and unsoundmind

• adult and unsoundming

Can a minor becomes an agent?

• Yes because a minor can enter into a contract

• No because he still a minor

• Yes. A minor will be responsible for his act

• Yes. A minor will not be responsible for his act

Agent

• is the individual employed by the principal to work with the third party.

• is an agent that is given the authority to perform a variety of tasks.

• is the individual who gives authority to the agent.

• is the person or company whom the agent deals with on behalf of the principal.

The person who has authorized an agent to represent him or her

• agent

• principal

• third party

Created when a person acts as an agent for a principal without the principal’s authority, but the principal approves or accepts the act

• agency by estoppel

• agency by ratification

• agency by statute

rules and regulations agency by necessity under section

• 142

• 149

• 135

• 168

Ivan worked as driver for Lucas. Ivan recklessly droves the car and caused an accident. During the accident he hit Robert's car. Robert claimed damages for his car. Can Robert do so?

• Yes, Robert may claimed damages from Lucas

• Yes, Robert may claimed damages from Ivan

• Not sure

if the agent fails to obey the principle's instruction

• the agent will not be liable for any loss incurred

• the agent will be liable for any loss incurred

• nothing can be do

S166- the agent need to render a proper account to his principle including money received form illegal and void transcription

• True

• False

the parties in agency contract is

• offeror and offeree

• seller and buyer

• agent and principle