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

    Question

    A contract of Agency can be terminated by the principal

    revoking his authority; or by the agent renouncing the business of the agency; or by the business of the agency being completed; or by either the principal or agent dying or becoming of unsound mind; or______________
    A By the principal being adjudicated an insolvent under the provisions of any Act for the time being in force for the relief of insolvent debtors Correct Answer Incorrect Answer
    B By the agent being adjudicated an insolvent under the provisions of any Act for the time being in force for the relief of insolvent debtors Correct Answer Incorrect Answer
    C By either party being adjudicated an insolvent under the provisions of any Act for the time being in force for the relief of insolvent debtors Correct Answer Incorrect Answer
    D By the third person being adjudicated an insolvent under the provisions of any Act for the time being in force for the relief of insolvent debtors Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Section 201.   Termination of agency- An agency is terminated by the principal revoking his authority; or by the agent renouncing the business of the agency; or by the business of the agency being completed; or by either the principal or agent dying or becoming of unsound mind; or by the principal being adjudicated an insolvent under the provisions of any Act for the time being in force for the relief of insolvent debtors.

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