Akshita Jha, BBA. L.L.B. & Prof. Alisha Thomas, School of Law, Narsee Monjee Institute of Management Studies, Bengaluru
ABSTRACT
The kind of legal relationship where any person tells another person to share his workload by performing transactions as a representative of him is termed as contract of agency. The person who appoints any third person to take charge of his transactions is termed as principal whereas the person who takes care of transactions is termed as agent. The different types of contract of agency include contracts of Indemnity, minor, bailment, A landmark case in this context was Harshad Shah vs LIC. This case raised questions on State Bank of India’s liability under doctrine of apparent authority. This case also raised a question that whether the payment of premium to any common agent of a bank can be considered as payment to the main incharge thereby declaring that all the other liabilities ended. Through this research paper lets critically analyse this case by analysing the issues all the facts and issues and judgements pertaining to the rights of general agent’s of LIC.
Keywords: Case, Indemnity, Principal, Agent, Contract
