When a Principal Terminates an Agency Arrangement,the Principal's Action Is

question 12

Multiple Choice

When a principal terminates an agency arrangement,the principal's action is called:

• A) revocation of authority
• B) rejection of authority
• C) renunciation of authority
• D) reaffirmation of authority
• E) reacquisition of authority

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Definitions:

FTC

The Federal Trade Commission, a U.S. government agency focused on consumer protection and maintaining competition.

Estate Settlement

The process of managing and distributing a deceased person's assets according to their will or state laws if there is no will.

Real Estate Brokers

Licensed professionals who arrange real estate transactions, putting buyers and sellers together and acting as their representatives in negotiations.

Phonebook

A printed listing of individuals' and organizations' telephone numbers, addresses, and sometimes additional information, grouped geographically.