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Agency

Corporate & Other Laws

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

Reetikaa R

CA Inter

★ 7K+

20-Mar-21 21:03

303

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

CA Inter

★ 14K+

20-Mar-21 21:59

Sahibdeep Singh

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.

No payment for agent sir ??

Thread Starter

Reetikaa R

CA Inter

★ 7K+

21-Mar-21 23:19

Thread Starter

Reetikaa R

No payment for agent sir ??

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

CA Suraj Lakhotia

Admin

22-Mar-21 08:24

CA Suraj Lakhotia Admin

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??

Thread Starter

Reetikaa R

CA Inter

★ 7K+

22-Mar-21 19:00

Thread Starter

Reetikaa R

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

CA Inter

★ 14K+

23-Mar-21 10:24