Sanjay, a resident of Bangalore is an agent of Rahul in Calcutta. There is an express contract b/w them that all sums remitted by Rahul to Sanjay will be invested by Sanjay all to Rahul's directions. Rahul remits Rs 10 Lakh to Sanjay's a/c & asks him to invest it in shares of Investment Ltd. Sanjay instead, without Rahul's consent, invests it in Netgain Ltd. believing it to be a better prospect. Rahul suffers a loss. In these circumstances Sanjay