In an Exclusive Agency Contract, the Agent Agrees Not to Work

question 28

True/False

In an exclusive agency contract, the agent agrees not to work for another principal for the duration of the agreement.

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Definitions:

Magnuson-Moss Act

A federal law in the United States aimed at improving consumer protection for goods by setting forth warranties and disclosure requirements.

Statue Of Limitations

Legislation that establishes the maximum period following an occurrence within which legal actions must be commenced.

UCC

Uniform Commercial Code; a comprehensive set of laws governing commercial transactions in the United States, including sales, leases, and secured transactions.

Negotiate

To discuss and arrive at a mutual agreement between parties, typically involving compromises or concessions by those involved.