Page 53 - DMGT407Corporate and Business Laws

Corporate and Business Laws Gopika Juneja, Profession University

Notes Unit 3: Contracts of Bailment and Agency

CONTENTS
Objectives
Introduction
3.1 Bailment and Duties and Rights of Bailor and Bailee
3.1.1 Definition of Bailment (S.148)
3.1.2 Kinds of Bailments
3.1.3 Duties and Rights of Bailor and Bailee
3.1.4 Termination of Bailment
3.2 Finder of Lost Goods
3.3 Definition of Agent and Agency and Kinds of Agencies
3.3.1 Meaning of Agent and Agency (S.182)
3.3.2 Different Kinds of Agencies
3.4 Classification of Agents
3.4.1 Special and General Agents
3.4.2 Mercantile or Commercial Agents
3.4.3 Non-mercantile or Non-commercial Agents
3.4.4 Sub-agent and Substituted Agent (Ss. 190-195)
3.5 Duties and Rights of Agent
3.5.1 Duties of Agent
3.5.2 Rights of Agent
3.6 Principal’s Duties to the Agent and his Liability to Third Parties
3.6.1 Duties of a Principal
3.6.2 Liability of Principal to Third Parties
3.6.3 Concealed Principal
3.7 Personal Liability of Agent
3.8 Termination of Agency
3.8.1 Circumstances under which Agency Terminates or Comes to an End (S.201)
3.8.2 When Termination of Agency takes Effect?
3.9 Power of Attorney
3.9.1 A Power of Attorney may be Special or General
3.9.2 Registration
3.10 Summary
3.11 Keywords
3.12 Review Questions
3.13 Further Reading

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