When an Agency Is Terminated

question 235

Multiple Choice

When an agency is terminated:

• A) the agent's authority to act for the principal does not end
• B) the agent may not work for someone who is in competition with the principal
• C) the agent's authority to act for the principal is reduced to very limited conditions
• D) the agent may never work with the principal again
• E) none of the other choices are correct

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Definitions:

Agreements

A mutual arrangement, contract, or understanding between two or more parties that outlines the terms and conditions for a specific course of action.

Requirements

in a legal or regulatory context, refer to the stipulated conditions or criteria that must be fulfilled or complied with.

Negotiability

Refers to the feature of some financial instruments or documents which allows them to be transferred or assigned from one party to another in a way that the recipient obtains a good title to the instrument.

Code

A system of principles or rules, often in written form, which is established by a particular country, organization, or community for governance.