New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    It is the duty of the agent to protect and preserve the

    interest on behalf of the principal’s representative in case of _____
    A Death of the principal Correct Answer Incorrect Answer
    B Insolvency of the principal Correct Answer Incorrect Answer
    C Both (a) & (b) Correct Answer Incorrect Answer
    D None of these Correct Answer Incorrect Answer

    Solution

    Explanation: As per the Indian Contract Act, when an agency is terminated due to death or insolvency of the principal, it becomes the duty of the agent to protect and preserve the interests of the principal's estate until proper arrangements are made by legal representatives or the court.

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