Formation and Characteristics of Agency
An agency may come into existence by the following ways:
Contract (Appointment) or agreement
Further this can be done in any way: like orally and may in writing or partly whether orally and partly in writing also.
Characteristics of Agency are as below:
- The agent performs a service to the principal and one is
- He represents the principal and one is
- Acts of the agent affect the legal place of the principal also.
Exception
As there agent with authority for execute a deed on behalf of the principal be obliged to appointed through a deed recognised like; POWER OF ATTORNEY.