can anyone please explain me the meaning of agency coupled with interest in your own word?
Agency coupled with an interest is when an agent has possession or control of the property of his principal and possesses a legal rights against interference by third parties. Principal cannot terminate an agency coupled with interest before its expiration or say its irrevocable untill interest expires. Death, incapacity or bankruptcy of the principal will not end an agency coupled with an interest.
for example- suppose bank sanctioned some loan to u and put a condition that bank will receive some fixed percentage of ur accounts receivable on ur behalf until loan is repaid in full ..this is an example of agency coupled with interest where bank is an agent ..
hope its clear now..it would be better to explain if u would have provided in what context u r asking this
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