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Business Environment and Law-Performance And Discharge Of Contracts

Duties and Rights of Agent-Performance And Discharge Of Contracts

   Posted On :  07.05.2018 11:58 pm

Duties and Rights of Agent-Performance And Discharge Of Contracts

Duties Of An Agent
 
 
To follow principal’s directions or customs:
Skill and diligence to work:
To render proper account: (Sec. 213): “An agent is bound to render proper accounts to his principal on demand.” He should always be ready to produce them to the principal.
To communicate with the principal (Sec. 214)
Not to deal on his own account: (Sec. 215)
To pay sums received for principal
Not to delegate authority (Sec. 190)
On Principal’s death or insanity (Sec. 209)

Rights Of An Agent

Right to Remuneration: Every agent is entitled to receive the remuneration agreed upon with the principal.
Right of retainer (Sec. 217)
Right of Lien (Sec. 221)
Right of indemnit

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