Question:

Which of the following statement is wrong regarding "agency" according to Indian Contract Act, 1872?

Updated On: Aug 5, 2024

Principal should be competent to contract
Consideration is necessary to create an agency
Agency may be created by ratification
The authority of agent may be expressed or implied

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The Correct Option is B

Solution and Explanation

The correct option is (B): Consideration is necessary to create an agency.

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