Which of the Following May Terminate an Agency Agreement by Operation

question 47

Multiple Choice

Which of the following may terminate an agency agreement by operation of law?

• A) Fulfillment of purpose
• B) Mutual agreement of the parties
• C) Bankruptcy of the principal
• D) Renunciation by the agent

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Definitions:

Great Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, which was officially observed in December 2007 – June 2009.

Strategic Farsightedness

The ability of individuals or organizations to anticipate and plan for future challenges and opportunities with long-term perspectives.

Strategy-making

The process of identifying and setting the organization's direction by specifying its strategy or direction and making decisions on allocating its resources.

Symbolic Mode

A form of communication or representation that uses symbols, images, or indirect suggestions to express complex ideas or emotions.