According to the Second Restatement,in Which of the Following Situations

question 15

Multiple Choice

According to the Second Restatement,in which of the following situations would an agency be terminated by operation of law?

• A) An outbreak of war places the principal and agent in the position of alien enemies.
• B) The death of the individual principal,only upon the agent's notice of the death.
• C) The agent gives notice to the principal that she is renouncing the authority given to her.
• D) None of these.

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Definitions:

Net Operating Income

Earnings generated from a company's regular business operations, excluding deductions for interest and taxes.

Fixed Manufacturing Overhead

Expenses related to the production process that remain constant regardless of the operational output, including equipment depreciation and facility rent.

Inventories

The range of goods or materials held by a company for the purpose of production, sale, or repair in the ordinary course of business.

Net Operating Income

The profit generated from a company's regular business operations, excluding expenses from interest and taxes.