Chartered Accountants
Chartered Accountants
Effect, on agreement, of misrepresentation of fraud, by agent Misrepresentation made, or frauds committed, by agents acting in the course of their business for their principals, have the same effect on agreements made by such agents as if such misrepresentations or frauds had been made orcommitted by the principals; but misrepresentations made, or frauds committed, …
Liability of principal inducing belief that agent’s unauthorized acts were authorized When an agent has, without authority, done acts or incurred obligations to third persons on behalf of hisprincipal, the principal is bound by such acts or obligations, if he has by his words or conduct inducedsuch third persons to believe that such acts and …
Person falsely contracting as agent not entitled to performance A person with whom a contract has been entered into in the character of agent, is not entitled to require the performance of it, if he was in reality acting, not as agent, but on his own account. Practice area’s of B K Goyal & Co …
Liability of pretended agent A person untruly representing himself to be the authorized agent of another, and thereby inducing a third person to deal with him as such agent, is liable, if his alleged employer does not ratify his acts, to make compensation to the other in respect of any loss or damage which he …
Consequence of inducing agent or principal to act on belief that principal or agent will be held exclusively liable When a person who has made a contract with an agent induces the agent to actupon the belief that the principal only will be held liable, or induces the principal to act upon the beliefthat the …
Right of person dealing with agent personally liable In cases where the agent is personally liable, a person dealing with him may hold either him or his principal, or both of them, liable.IllustrationA enters into a contract with B to sell him 100 bales of cotton, and afterwards discovers that B was acting as agent …
Performance of contract with agent supposed to be principal Where one man makes a contract with another, neither knowing nor having reasonable ground to suspect that the other is an agent, the principal, if he requires the performance of the contract, can only obtain such performance subject tothe rights and obligations subsisting between the agent …
Rights of parties to a contract made by agent not disclosed If an agent makes a contract with a person who neither knows, nor has reason to suspect, that he is an agent, his principal may require the performance of the contract; but the other contracting party has, as against the principal, the samerights as …
Agent cannot personally enforce, nor be bound by, contracts on behalf of principal In the absence of any contract to that effect, an agent cannot personally enforce contracts entered into by him onbehalf of his principal, nor is he personally bound by them.Presumption of contract to contrary—Such a contract shall be presumed to exist in …
Consequences of notice given to agent Any notice given to or information obtained by the agent, provided it be given or obtained in the course of the business transacted by him for the principal, shall, as between the principal and third parties, have the same legal consequences as if it had been given to or …