Relation Of Principal And Agent

Sujeet Prakash, L.L.M, Chanakya National Law University

ABSTRACT

An agency is the creation of a contract entered into by mutual consent between a principal and agent. By agency, a principal grants authority to an agent to act on behalf of and under the control of the principal. The relation between a principal and an agent is fiduciary and an agent‟s actions bind the principal. The law of agency thus governs the legal relationship in which an agent deals with a third party for his/her principal. An agent owes certain duties towards his/her principal and a principal owes certain duties towards his/her agent.

Indian Journal of Law and Legal Research

Abbreviation: IJLLR

ISSN: 2582-8878

Website: www.ijllr.com

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