Who are called mercantile agent?

Who are called mercantile agent?

A mercantile agent is a person who is appointed by those in business to act on their behalf or to represent them in dealing with other persons. The person on whose behalf he acts as an agent is known as the ‘Principal’.

What are the types of mercantile agent?

Kinds of Mercantile Agents or Agent Middlemen

• Brokers.
• Factors.
• Commission Agents.
• Del-credere Agents.
• Auctioneers.
• Warehouse keepers.

Who is mercantile agent in sale of goods Act?

Mercantile or Commercial agencies, is a person who a principal authorizes to purchase and liquidate assets, and to raise funds by using the principal’s assets as loan collateral.

Who is not a mercantile agent?

(3) Law Agents, whose business is to look after the legal affair of their principals. In addition, there are attorneys, who act on behalf of their clients.

Who can be an agent?

Who can appoint an Agent? According to Section 183, any person who has attained the age of majority and has a sound mind can appoint an agent. In other words, any person capable of contracting can legally appoint an agent. Minors and persons of unsound mind cannot appoint an agent.

What are different kinds of agents?

Kinds of Agents

• Universal Agent : A Universal agent is one who is authorised to do all the acts which the Principal can lawfully do and can delegate.
• Special Agent:
• General Agent:
• De Credere Agent:
• Pakka Adatia And Kaccha Adatia.
• Broker :
• Factor :
• Commission Agent:

What is agent example?

An agent is defined as someone or something that makes something happen. A bee taking pollen from flower to flower is an example of the bee being an agent for pollination.

Who could be an agent?

According to Section 183, any person who has attained the age of majority and has a sound mind can appoint an agent. In other words, any person capable of contracting can legally appoint an agent. Minors and persons of unsound mind cannot appoint an agent.

Which is the best definition of a mercantile agent?

mercantile agent. a commercial agent, such as a factor or broker, who in the ordinary course of his business has authority to sell goods, to consign goods for sale, to buy goods or to raise money on the security of goods on behalf of his principal.

Can a diamond broker be a mercantile agent?

It was held that breach of a particular usage of trade ,that diamond brokers did not pledge gems, did not exclude the mercantile agent from acting in the ordinary course of business as s.

Can a mercantile agent bind a principal outside his authority?

Outside of this special act, task or function, he has no authority or power. In this case, the third party cannot assume that the agent has unlimited authority. Thus, any act of the agent outside his authority cannot bind the principal. 3. Mercantile Agent:

What kind of hardware does mercantile agents use?

We deal in a wide range of IT products which includes hardware, software, peripherals, networking & A/V equipment from the market leaders like Acer, Dell, HP, Canon, Epson, Microsoft, Autodesk, Adobe, CISCO, D-link etc. Integrating various IT products in our portfolio we provide customized solution as per the need of our valued customers.