Which of the Following Is Not a Way an Agency

question 1

Multiple Choice

Which of the following is not a way an agency relationship will terminate by acts of the parties?

• A)Fulfillment of purpose
• B)Mutual agreement by the parties
• C)Change in circumstances
• D)Agency coupled with interest
• E)Renunciation by the agent

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Definitions:

Skis And Ski Boots

Items used in the sport of skiing, where skis are long narrow platforms to glide over snow, and ski boots are specialized footwear that attach to the skis.

Cross-Price Elasticity

A measure in economics that shows how the quantity demanded of one good reacts to a change in price of another good, indicating their substitutability or complementarity.

Butter And Margarine

These are two types of spreads commonly used as alternatives to each other; butter is made from animal fat while margarine is made from vegetable oils.

Water And Lemons

This may refer to the economic theory illustrating the concept of asymmetric information, where sellers have more information about the product quality than buyers, as famously exemplified in Akerlof’s “The Market for Lemons.”