Which of the following statement is incorrect?
Verified Answer
A. The authority of an agent may be implied
B. Consideration is necessary to create an agency
C. Only a person of majority can become an agent
D. In emergency, an agent has authority to do all acts for the purpose of protecting his principal
Explanation:
Section 185 of the Indian Contract Act, 1872 explicitly states that no consideration is necessary to create an agency. Therefore, statement (B) is incorrect.