Which of the Following Would Not Terminate an Agency by Operation

question 40

Multiple Choice

Which of the following would not terminate an agency by operation of law?

• A) A real estate agent loses his license.
• B) A principal hires another agent with similar duties.
• C) The principal is declared bankrupt.
• D) A lightning bolt kills the principal.

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Definitions:

Short-Form Mergers

A streamlined merger process available when a parent company merges with a subsidiary of which it owns a significant majority.

Consolidation

The act of combining multiple entities, assets, or processes into a single, more effective and efficient structure.

Liabilities

Financial obligations or debts that a company or individual owes, which are recorded on the balance sheet and must be settled over time.

Assets

Resources with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.