Which of the Following Is False with Respect to a Written

question 73

Multiple Choice

Which of the following is false with respect to a written agency agreement by an agent to act as the principal's exclusive agent for five years?

• A)Such an agency is capable of being revoked.
• B)If either party revokes the contract within five years, he will be liable for breach of contract.
• C)The agent has the power to renounce the agreement.
• D)This is an agency coupled with an interest.

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Definitions:

Common Stock

A type of equity security that represents ownership in a corporation, where holders typically have voting rights and may receive dividends.

Acquisition Transaction

The process where one company takes control of another company by purchasing a majority of its stock or assets.

Contingency Payment

A payment that is due only upon the occurrence of a specific event that is not certain to happen.

Credit Balance

A credit balance refers to the amount of money in a financial repository or accounting record that is available for withdrawal or use, often indicating a surplus or funds owed to the account holder.