Management Notes

Menu
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • News
Menu
Rights of an Agent

Rights of an Agent – Contract of Agency | Legal Aspects of Business and Technology

Posted on December 1, 2017January 27, 2021 by Smirti

Rights of an Agent
Contract of Agency | Legal Aspects of Business and Technology
Business Law
Management Notes

An Agent

An agent is authorized to act on behalf of his principal and has power to create legal relations between the principal and third party.An agent can serve two or more principals at a time.An agent can act freely. Though he has to follow the instruction of his principal in the performance of his duty.An agent may be paid by many of commission of the basis of work done.
The duties of a principal are the rights of the agent. Contract Act, 2056 Section 62 has made a little but provision to the effect. Generally, the agent enjoys the following rights:

Rights of an Agent

a) Right to receive remuneration:


Where the contract of agency is based on the remuneration or commission, the agent has right to such remuneration or commission and it must be supplied to him. If it is not fixed, the agent is entitled to the right of reasonable remuneration. He has right to receive it at the time of completion of his work.

b) Right to lien:


The gent has power of particular lien on the goods. If the principal does not pay or denies paying sums, the agent will enjoy a right to retain the principal’s goods until he gets the sums recoverable. The agent can only retain the goods. He has no power to sell.

c) Right to claim reimbursement for expenses:


An agent might have incurred certain expenditures on behalf of his principal either on request of the principal himself or an account of understanding implied by the terms of agency. He can ask the principal to pay for such expenditures.

d) Right to claim compensation:


An agent enjoys a right to claim compensation for any loss suffered by him in-spite of all lawful acts done in exercise of his authority. He has a right to claim full compensation from the principal for any loss or damage caused to him without his own fault in the ordinary course of agency business.

e)Right to stoppage of goods in transit:


An agent has right to stop the goods in transit to the principle if he has bought goods either with his own money or by incurring a personal liability for the price and the principal has become insolvent.

Copyright Permission: Ramesh Prasad Yadav

Similarly,

  • Features of Contract of agency 

Share this:

  • Twitter
  • Facebook
  • Reddit
  • Pinterest
  • WhatsApp
  • LinkedIn
  • More
  • Pocket
  • Tumblr
  • Skype
  • Telegram
  • Print

Related Posts

  • Legal Aspects of Business and Technology
  • 3 thoughts on “Rights of an Agent – Contract of Agency | Legal Aspects of Business and Technology”

    1. Jonshon Bernat says:
      February 16, 2019 at 12:45 pm

      The article is really nice. I was wondering to get right information for to contract with my agent for running my site

      Reply
    2. Oluma Emmanuel says:
      May 18, 2019 at 7:28 pm

      I love the writing. its beneficial. thank you

      Reply
      1. Smirti says:
        May 20, 2019 at 2:35 am

        Welcome

        Reply

    Leave a Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Categories




    Recent Posts

    • Which of the following experiments involves the use of operant conditioning? | Psychology February 10, 2021
    • Nagarik Lagani Kosh – Citizen Investment Trust | नागरिक लगानी कोष February 3, 2021
    • Unsound Mind- Rules Regarding Person of Unsound Mind | Business Law January 28, 2021
    • Unpaid Seller – Rights and Duties of Unpaid Seller | Business Law January 27, 2021
    • Agency By Ratification – Essential of Valid Ratification | Business Law January 27, 2021

    Subscribe on YouTube




    Top Posts & Pages

    • Importance of Organizational Behavior - What is OB? | Organizational Behavior
    • Levels of Organizational Behavior - OB| Management Notes
    • Key elements of Organizational Behavior | Organizational Behavior
    ©2021 Management Notes | Design: Newspaperly WordPress Theme