Write a short not on contract agency
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Consideration is not mandatory: There is no legal requirement of consideration, to support the relationship between the principal and agent. Capacity of Principal: One who is legally competent to contract is eligible to employ an agent, i.e. he should have attained the age of 18 years and of sound mind.
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Contract of Agency is a two-party relationship in which one person acts as representative to the other in business dealing in order to create contractual relations between that other and third person. An agency may be created to perform any act which the creator of agency himself could lawfully do.
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