When Is an Agency Relationship Irrevocable

question 51

Multiple Choice

When is an agency relationship irrevocable?

• A) It is never irrevocable.
• B) When the agency is coupled with an interest of the agent in the subject matter
• C) When the principal violates his duties to the agent
• D) When the agency is gratuitous

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Definitions:

1980s

A decade known for its significant political, cultural, and technological changes, impacting global dynamics.

Recession

A significant decline in economic activity across the economy, lasting longer than a few months, typically visible in GDP, real income, employment, and other indicators.

Prosperity

A state of economic growth and success, often characterized by financial wealth, high living standards, and an overall well-being.

Recovery

A phase in the economic cycle where output and employment grow following a recession.