Agency Law

Basic objective of this lecture is to describe on Agency Law; in terms of business law. Here explain Agency Law in four types; Broker: He only brings about the transaction between the principal and the buyer or seller but the possession of the goods or document of title to goods is not given to him. Factor: A factor in ordinary course of business is entrusted with possession of the goods or with possession of documents of title to goods; Mercantile Agent: A mercantile agent is one having authority in the course of business to sell goods or consign goods for the purpose of sale or to buy goods and even to raise money on the security of goods. Auctioneer: An auctioneer is in law an agent of the person whose property is to e sold by auction through him.