Page 59 - 01. Indian Contract Act, 1872

3. Del Credere Agent
 Gives guarantee to the principal that credit purchasers while pay for the goods.
 Gets an extra remuneration in return.
 If third party fails to pay , he is bound to pay the principal , the balance amount.

4. Auctioneers
 Sells goods by auction.
 Cannot warrant his principal's title to the goods.
 Until sale he is an agent for seller.
 After sale he is an agent for buyer.

5.Partners
 Agent of the firm and his co- partners.

6. Bankers.
 Relationship of debtor and creditor with their customers.
 Agent of customer when he buys or sell securities, collects bills etc. on customer's
behalf.
 Has general lien on all goods and securities in his possession.

Duties of Agent:
(a) Sec. 21: To conduct principal's business according to his directions.
(b) Sec. 212: He must always act as a person with skill and diligence.

(c) Sec. 213: He has to maintain and render proper accounts to the principal whenever
demanded.
(d) Sec. 214: To communicate and obtain instructions in case of difficulty.
(e) Sec. 215: He must not deal on his own account.
(f) Sec. 216: Must not make any secret profit.
(g) Sec. 217 & 218: To account for money received for the principal.

Not to use the information obtained in the course of agency against the principal.
Agent cannot delegate his authority to sub agent generally. The general ruie for this
is delegates non protest delegare a delegatee cannot further delegate

Rights of an Agent
(a) Sec. 217: Rights of Retention.
(b) Sec. 219: Right to receive agreed remuneration.
(c) Sec. 221: Right of lien on principal's property.
(d) Sec. 222: Right of indemnification for lawful acts.
(e) Sec. 223: Right of indemnification against acts done in good faith.

Note:
Sec. 224:
Agent cannot be indemnified for any loss caused by criminal act.

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