If a Principal Terminates an Agency Without Giving Notice of the Termination

question 13

True/False

If a principal terminates an agency without giving notice of the termination to third persons, the agent may retain the power to make contracts that will bind the principal and third persons.

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Definitions:

Dejobbing

Dejobbing refers to the process of restructuring or redesigning work in a way that traditional job definitions and classifications become less relevant, often in response to changes in technology or market demands.

Power Distance

A cultural dimension that reflects the extent to which less powerful members of organizations and institutions accept and expect that power is distributed unequally.

Low Power Distance

A societal characteristic where individuals perceive little difference in power and status among members, promoting equality and challenging authority.

Feedback

The information and reactions received about an individual's performance or about the results of a business activity, used as a basis for improvement.