The document discusses the concept of agency in contract law. It defines agency as a relationship based on express or implied agreement where one person, the agent, acts on behalf of another, the principal. It outlines key differences between agents and servants, features of agency, types of agents based on authority and work, and ways an agency can be created, terminated, and the rights and duties of agents.

1. Contract of Agency Agency is a relation based upon express or implied agreement where by one person is known as agent and the other person is known as principal.

2. Difference between Agent & Servant KR/MB/108 Agent Servant He has the authority to create commercial relationship between the principal & the third party He ordinarily has no such authority. He may work for several principal at a time. He ordinarily work for only one master at a time. He usually get commission He usually get salary or wages.

4. Kinds of Agents KR/MB/108 On extent of their Authority On he nature of Work performance Universal Agents Special Agents General Agents Mercantile Agent Non-Mercantile Agent Broker Factor Commission Agent Auctioneer Del-credere Attorney Solicitor Wife Insurance Agent Election Agent Banker Agent