What are the conditions to be satisfied for an "Agent's authority in an emergency" under the provisions of The Indian Contract Act, 1872?

Agent’s authority in an emergency [Section 189 of the Indian Contract Act, 1872]: \nAn agent has authority, in an emergency, to do all such acts for the purpose of protecting his principal from loss as would be done by a person of ordinary prudence, in his own case, under similar circumstances. \nTo constitute a valid agency in an emergency, following conditions must be satisfied: \n(i) Agent should not be in a position or have any opportunity to communicate with his principal within the time available. \n(ii) There should have been actual and definite commercial necessity for the agent to act promptly. \n(iii) the agent should have acted bonafide and for the benefit of the principal. \n(iv) the agent should have adopted the most reasonable and practicable course under the circumstances, and \n(v) the agent must have been in possession of the goods belonging to his principal and which are the subject of contract.