Indian Contract Act terminated An agency is 1. by the agent renouncing the business of the agency 2. by the principal being adjudicated an insolvent 3. by revoking of authority by principal

Option A: 1 and 2

Option B: 2 and 3

Option C: 1 and 3

Option D: 1, 2 and 3

Correct Answer

Option: d

Explanation

Section 201 of Indian Contract Act: 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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