This case is the outcome of the appeal from a decision pronounced by the Court of Appeal. Case essentially involves a person named Major Rowlandson who in 1925 took out 5 policies on his own life with the company called Royal Insurance Com. Ltd for the sum amounting to 50,000. The Terms & Condition of each policy contained a clause which says. Since 1925 he was maintaining all these five policies and was paying the premium of around 1800 per annum.
Agency theory
The agency theory is often connoted as he who acts through another, acts for himself…’.qui facit per alium, facit per se’. The expression can be described as a bilateral onerous, consensual contract whereby one party, the principal, authorizes another, the agent, to execute business on his behalf. There are essentially 3 parties involved in the … Read more