Daily Archives: July 28, 2024

EXPLAINED: AGENT- PRINCIPAL RELATIONSHIP

Section 182 of the Indian Contract Act, of 1872 defines the relationship between Agent and principal. According to the said section, an agent is a person employed to do any act for another or to represent another in dealings with third persons. The person acting on behalf of the other is called an agent, and…

Explained: Bailee-Bailor Relationship

Bailment and Pledge are two special contracts that are often confused. Every pledge is a bailment but every bailment is not a pledge. Bailment means the delivery of goods from one person to another for a special purpose. A  Pledge means the delivery of goods as security for the payment of a debt or the…