A Principal May Not Revoke an Agency Contract If the Agent

question 17

Multiple Choice

A principal may not revoke an agency contract if the agent has an interest in the subject matter of the agency in addition to the remuneration that he or she receives for services.Such a contract is called an irrevocable agency,which is also known as:

• A) agency coupled with an interest.
• B) collection agencies.
• C) agency by ratification.
• D) apparent authority.

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Definitions:

Observational Learning

A learning process through observing and imitating others' behaviors, actions, or outcomes.

Dessert

Dessert is a course that concludes a meal; it typically consists of sweet foods, such as confections, or possibly a beverage like dessert wine or liqueur.

Thunder

The loud sound that follows a flash of lightning, caused by the rapid expansion of heated air in the atmosphere.

Cognitive Processes

The mental activities involved in the acquisition, processing, and storage of knowledge, such as perception, memory, and reasoning.