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

    Question

    According to the Contract Act under what circumstance is

    a principal unable to revoke the authority granted to an agent?
    A The principal can revoke the authority at any time without regard to whether the agent has already partly exercised it Correct Answer Incorrect Answer
    B The principal cannot revoke the authority after it has been partly exercised by the agent, as long as the agent has not yet completed the entire scope of the agency Correct Answer Incorrect Answer
    C The principal cannot revoke the authority after the agent has partly exercised it, but only if the agent has completed more than half of the assigned tasks Correct Answer Incorrect Answer
    D The principal cannot revoke the authority after it has been partly exercised by the agent, with respect to acts and obligations that have already arisen from the agent's actions Correct Answer Incorrect Answer
    E The principal can revoke the authority only if the agent agrees to the revocation, regardless of whether the authority has been partly exercised. Correct Answer Incorrect Answer

    Solution

    Section 204.   Revocation where authority has been partly exercised: The principal cannot revoke the authority given to his agent after the authority has been partly exercised, so far as regards such acts and obligations as arise from acts already done in the agency.

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