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If an Agency Is Gratuitous, the Principal Ordinarily May Revoke

question 61

True/False

If an agency is gratuitous, the principal ordinarily may revoke it without liability to the agent.

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Definitions:

Private Property

Ownership rights over property (such as land, buildings, or goods) by individuals or non-governmental entities.

Market System

A type of economic system where decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand.

Resource Market

A market where resources (such as labor, capital, and raw materials) that are used to produce goods and services are bought and sold.

Product Market

The marketplace where final goods or services are traded between sellers and buyers.

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