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Essentials of an Agency Contract

  Essentials of an Agency Contract Essentials of an Agency Contract AGENCY Agent and Principal defined –  An “agent” is a person employed to do any act for another, or to represent another in dealings with third persons. The person for whom such act is done, or who is so represented, is called “principal”.  What distinguishes an agent from a person appointed to do an act, is the agent’s representative capacity coupled with a power to affect the legal relations of the principal with third persons. not to represent another  Merely because the words agency agreement and agent are mentioned in the contract doesn’t necessarily mean its a contract of agency, especially when the surrounding circumstances and the nature of the relationship as disclosed by evidence does not reveal so.  A person does not become an agent merely because they give advice in matters of business.  Essentials of Agency Principal should be competent to contract  Section 183)  Mino...
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Theory of ultra vires

                                        Theory of Ultra Vires                                                      By Rhythm Goel at Lexcliq Introduction The doctrine of supra vires relates to decisions made by an individual, private entity, or business. The constitution of any company is included in what is referred to as the Memorandum of Association of Company (Memorandum). The memorandum outlines the company's goals, authority, and internal and external operational areas. The corporate executives will refer to the memorandum as an overview and a guide to make sure the breadth of their own powers and the boundaries they can a...
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Article 141

 Article 141 of the Indian constitution. Indian law is largely based on English common law because of the long period of British colony influence during the British raj. Precedents became a source of law only during the British rule in India. The government of India act 1935 established a federal court and Privy Council whose decisions were binding on all the other courts in the country and this was the beginning of using precedents in making judgments, soon with passage of time precedents acquired a lot of importance. Precedent form the primary source of law these days, they tend to strengthen the laws and judicial system of the country and help us to improve the formation of laws of the country and make them suitable according to the situations. But the basic problem in its application is the unavailability of proper records for its effective implementation, improving which will improve the situation and make the system more flexible. According to black’s law dictionary: Rule of ...
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