1. Akash is a famous manufacturer of leather goods. He appoints Prashant as...
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Accounting
1. Akash is a famous manufacturer of leather goods. He appoints Prashant as his agent. Prashant is entrusted with the work of recovering money from various traders to whom Akash sells leather goods. Prashant is paid a monthly remuneration of 15,000. Prashant during a particular month recovers 40,000 from traders on account of Akash. Prashant gives back * 25,000 to Akash, after deducting his salary. Examine with reference to relevant provisions of the Indian Contract Act, 1872, whether act of Prashant is valid
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