Rights of Surety: A Comprehensive Study

    [pic 1]

PROJECT SUBMISSION- SPECIAL CONTRACTS

    “RIGHTS OF SURETY: A COMPREHENSIVE STUDY”

Submitted by:

                                     Ramandeep Singh Dahiya

                           Division: B Roll No:16 Class: 2013-2018 of

                                Symbiosis Law School, NOIDA

                        Symbiosis International University, PUNE

                                                       In

SEPTEMBER 2014

Under the guidance of

Prof. Anshul Mittal

Course In Charge

                                                  CERTIFICATE

The Project entitled “DUTIES OF AN AGENT A COMPREHENSIVE STUDY”

submitted to the Symbiosis Law School, NOIDA For special contracts as part of Internal assessment is based on my original work carried out under the guidance of Mrs. Anshul Mittal from___july2014_____ to _______october2014___. The research work has not been submitted elsewhere for award of anydegree. The material borrowed from other sources and incorporated in the project has been duly acknowledged. I understand that I myself could be held responsible and accountable for plagiarism, if any detected later on.

Signature of the candidate

Date: 15th September 2014.

Agent

According to Section 182 an agent is a person employed to do any act for other or to represent another in the dealings with the third persons. The person for whom such act is done, or who is so represented, is called “principal” In  other words , an agent is a person employed to do any act for another , or to represent another in dealings with third person. In simple words an agent is a person hired by the principle to represent him for some transaction or dealing with a third person. A person may become an agent only condition being that the person so employed should be of the age of majority and of sound mind.  An agent has an authority to create contractual relationship between the principal and a third party. An agent is not subject to the direct control or supervision of the principal. As such, he has greater discretion in his actions. A principal has the right to direct what the agent has to do but the master has also the right to say how it is to be done. An agent is paid commission on the basis of work done. A principal is liable for only those acts which are within the scope of the authority given to the agent. An agent may work for a number of principals at the same time.