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What benfit.does an agency get in the contact of agency??

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Reetikaa  R

Reetikaa R

CA Foundation

4K+

20-Mar-21 21:03

6

Answers (5)

Principal gets an individual who can work on his behalf or represent him. Agent gets an authority to act on principal's behalf and bind him through actions. It is deemed consideration.


Sahibdeep Singh

Sahibdeep Singh

Moderator

20-Mar-21 21:59

No payment for agent sir ??

The agent generally gets commission or other form of remuneration for work done.


Suraj Lakhotia

Suraj Lakhotia

Admin

22-Mar-21 08:24

The agent generally gets commission or other form of remuneration for work done.

Sir then why no consideration is required is written in book.sir??


Reetikaa  R

Reetikaa R

CA Foundation

4K+

22-Mar-21 19:00

Sir then why no consideration is required is written in book.sir??

Commission or remuneration may or may not be there. Even when provided it's normally the reimbursement of expenses or amount to be spent etc. So, general rule of law remains no consideration is necessary for agency. You will study about agency on depth at CA Inter level.


Sahibdeep Singh

Sahibdeep Singh

Moderator

23-Mar-21 10:24

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