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Report No. 13

Section 201.- For section 201 of the principal Act, the following section shall be substituted, namely:-

"201. Termination of agency. An agency is terminated-

(a) by the principal revoking his authority;

(b) by the agent renouncing the business of the agency;

(c) by the business of the agency being completed;

(d) by either the principal or agent dying or becoming of unsound mind;

(e) by either the principal or agent being adjudicated an insolvent under the provisions of any Act for the time being in force for the relief of insolvent debtors;

(f) by expiry of the period of agency, if any;

(g) by the destruction of a material part of the subject-matter of the agency;

(h) by the happening of any event which renders the agency unlawful or upon the happening of which it is agreed between the principal and the agent that the authority shall determine; or

(i) by dissolution of the principal, where the principal is a firm or a company or other corporation".

Indian Contract Act, 1872 Back

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