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        Indian Laws

        Section 215 - Right of principal when agent deals, on his own account, in business of agency without principal's consent

        Indian Contract Act, 1872
        Chapter Xd
        Agents duty to Principal

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        Agent self-dealing: principal may repudiate transactions when material facts are concealed or dealings are disadvantageous. An agent who, without the principal's consent, deals on his own account in the agency business must acquaint the principal with all material circumstances; if the agent dishonestly conceals material facts or the dealings are disadvantageous to the principal, the principal may repudiate the transaction. If the agent knew of a material fact unknown to the principal when buying for himself, the principal may either repudiate or adopt the sale upon discovery.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Agent self-dealing: principal may repudiate transactions when material facts are concealed or dealings are disadvantageous.

                              An agent who, without the principal's consent, deals on his own account in the agency business must acquaint the principal with all material circumstances; if the agent dishonestly conceals material facts or the dealings are disadvantageous to the principal, the principal may repudiate the transaction. If the agent knew of a material fact unknown to the principal when buying for himself, the principal may either repudiate or adopt the sale upon discovery.


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