The rights and duties of the agent and principal are in accordance with the express or implied terms of the contract. Thus, an agency relationship can be brought in, The vast majority of agency relationships are created through an agreement between the, The paradigm method of creating an agency relationship occurs where the principal and agent, expressly agree to enter into an agency relationship. The law recognizes the agency device and the rules relationg to the conduct of activity through an agency is called the law of agency. Primarily, there are four main methods of creation of agency: Agency by Express agreement. the relationship between a principal and that person's agent. Revocations of the agents power by the principal may not automatically discharge the principal from liability to a third party who is entitled to rely from liability to a third party who is entitled to rely from liability to a third party who is entitled to rely from liability to a third party who is entitled to rely on the apparent authority of the agent on grounds of representation by the principal of previous course of dealing with the agents before notice of revocation is given to the third party .Therefore notice of revocation of an agents power should be given to the third party as soon as possible. The court held that irrespective of whether Chan was a partner or not, Chan had the authority to do things on his behalf and, Chan who act as appellant was liable for Yongs acts. Formation or Creation of Agency. For example: A and B are brothers, A has got settled in foreign country without any request from A, B has handed over A`s agricultural land on these basis to a farmer and B is collecting and remitting the amount of rent to A. 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Agents authority in an emergency An agent has authority in an emergency, to do all such acts for the purpose of protecting his principal from loss as would be done by a person of ordinary prudence in his own case, under similar circumstances. The authority of an agent may be revoked at any time by the principal. Agency can be express or implied. expressly agree to enter into an agency relationship. However, some agency relationships do not work out for the best. In other words, the law will regard the agents actions At the same time plaintiff paid and obtained warrants for the other lots, which was the ordinary course of proceeding among brokers, they getting discount allowed by the seller. Relationships that are commonly associated with agency law include employer-employee, administrator-decedent or executor, and guardian-ward. Chapter X of the Indian Contract Act, 1872 deals with the laws relating to Agency. Existence of "Agency" Relationship Disputed - Free Legal Information - Laws, Blogs, Legal Services and More A main issue affecting the construction industry has always been the problem of delayed as well as non-payment. The act of the agent binds the principle in the same manner in which he would be bound if he does that act himself. There after A has given his support (adoption) to B`s activity, it is called Ratification. 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