To Avoid Being Bound by the Acts of the Agent

question 15

Multiple Choice

To avoid being bound by the acts of the agent after the agency has ended,the principal:

• A)should give actual notice to those who have dealt with the former agent.
• B)should give constructive notice to those who have dealt with the former agent.
• C)should give verbal notice if the termination is due to loss of legal capacity by the principal.
• D)should give actual notice if the termination is due to impossibility of performance.

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Definitions:

Enforced

The act of compelling compliance or obedience to a law, rule, agreement, or obligation through legal or authoritative means.

Intended Beneficiary

A third party to a contract whom the contracting parties intended to benefit directly from their contact.

Prenuptial Agreement

A contract entered into prior to marriage specifying the distribution of assets in the event of divorce or death.

Ownership Rights

The legal rights to use, control, and dispose of property or assets.