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

    Question

    As per section 201 of the Contract Act an agency is

    terminated by___________________
    A Efflux of time Correct Answer Incorrect Answer
    B Principal not revoking his authority Correct Answer Incorrect Answer
    C Principal or agent becoming of sound mind Correct Answer Incorrect Answer
    D Agent renouncing the business of the agency 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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