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Agent - Principal Relationship between Banker and Customer
Related Cases / Recent Cases / Case Law
- The Bank of India Vs The Official Liquidator, AIR 1950: The customer has no account with the bank yet three cheques were sent with a request for the collection on yourself and remit the proceeds by way of drawing a cheque drawn in favor of a bank in Bombay (less charges). The Supreme Court held that the bank acted as an agent for collection of the cheques.
- Bharat Bank Ltd Vs Kashyap Industries, AIR 1958: Supreme Court held that the defendant bank was liable to pay compensation to the plaintiff for the loss caused due to negligence in presenting the invoice to the third party.
- Central Bank of India Ltd Vs Ram Sarup Khanna and another, AIR 1956
- Section 182 of Indian Contract Act, 1872: Defines "Agent" and "Principal"