(a) Between the captain and the agent whose agent deducts his power to act for and for the law of the client and the third death or folly of one of the two parties: the agency is terminated if the agent or the client dies or goes mad. In the event of the death of the agent or client, the Agency is automatically terminated because a person cannot act on behalf of a person who does not exist. So when a client dies, the authority of his advocacy is also answered. Similarly, the relationship between the agent and the client ends when the client or agent goes crazy, because an unhealthy person cannot contract. Any person who, according to the law to which he is subject, is of the age of the transfer and who is in good health, can hire an agent1. Between the master and the third person, a person can become an agent to be accountable to his principal in accordance with the provisions of the law. No consideration is required for the creation of an agency. Under Indian law, several types of commercial agents have been recognized, including brokers, auctioneers, del Credere agents, and those responsible for obtaining funds for sales and insurance agents. Agency relationships can be broken in many ways. Once the Agency is terminated, the agent is no longer required to act on behalf of the client or is no longer empowered to act.
The Agency may be terminated by the agent, the adjudicator power or with the mutual agreement of the adjudicator and the agent. If the client or broker has gone bankrupt during the term of the contract, the Agency is terminated. If a licensee representing a broker has declared bankruptcy, this does not affect the Agency. 2. Expiration of the deadline: when an agency is created for a specified period, it ends at the end of that period, even if the work is not completed. An agency automatically ends at the end of its mandate. If the Agency were to operate a gas pump for a period of time, it was found that the representative was required to proceed with the operation once the deadline was set. There was no extension clause and there was no renewal. The agent may, following an appropriate notification to the adjudicator, renounce the Agency`s activities. If the Agency`s contract is concluded for a specified period of time, the agent should pay the adjudicating authority compensation for the prior waiver of the Agency`s activities.
Third parties who are not aware of the resignation can reasonably believe that an ex-agent still has the power. To protect third parties who rely on such reasonable authority, an officer`s obvious authority often persists after resignation. Thus, a former agent may hire him under his apparent authority, even though the Agency is complete. Example: a B designated as its agent to recover the loan loaned to C and A.B the loan loaned to C. A and B then agreed to end the agency relationship between them. This is where the agency is fired. The contracting entity should notify all affected third parties when an agency relationship ends to ensure that third parties do not accidentally act with the agent acting on behalf of the contracting entity. If the client does not tell third parties that the Agency has resigned, the agent may still have obvious authority, which means that the client may remain responsible for the agent`s unauthorized transactions. For example, there will be an agency termination if a house burns down before being sold.