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Breach
An act of breaking or failing to observe a law, agreement, or code of conduct.
Principal's Termination
The end of an agency relationship by the decision of the principal, who is the individual or entity that has empowered another to act on their behalf.
Exclusive Agency
An agency in which a principal grants an agent an exclusive territory and does not allow another agent to compete in that territory.
Liable
Refers to being legally responsible to compensate or rectify a damage, loss, or breach of contract.
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