Posted February 1, 2014 by advocateguru in Learning Centre

Termination of agency by act of parties

i.            Agreement:- the relation of principal and agent like any other agreement may be terminated at any time and at any stage by the mutual agreement between the principal and the agent.

ii.            Revocation by the principal:- the principal may revoke the authority of the agent at any time before the agent has exercised his authority so as to bind the principal unless the agency is irrevocable.

Revocation by the agent:- an agency may also be terminated by an express renunciation by the agent after giving a reasonable notice to the principal.