They learned about the mercantile practices of different cultures.3. They were impressed by the efficiency mercantile agent examples of the mercantile logistics.4. The mercantile industry saw rapid growth during the industrial revolution.5. They studied the impact of mercantile policies on colonial economies.6.
So, who is a pure agent and why is a pure agent relevant under GST? A mercantile agent has the authority to buy, sell, or raise money on the security of goods. Special agents have a much more limited level of authority than universal and general agents.
Legal Provisions Based on Bailment of Pledges
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- His nephew went afterwards and ordered for jewelry on behalf of the owner (the principal) and disappeared.
- On discovering the fraud the finance company sought ownership of the van.
- A pure agent concept is an important one for businesses as it has directimplications on the value of taxable service.
- Clearly, the buyer in these two circumstances is in exactly the same position in terms of knowledge and expectation, but in a completely different position in terms of the application of nemo dat.