Termination of Agency Relationship Flashcards
1
Q
Ability to Terminate
A
Either party has the power to terminate the relationship at any time, both expressly and impliedly.
2
Q
Implied Termination
A
Implied termination happens where the circumstances have changed and the principal becomes aware that the agent would no longer consent. Or by operation of law such as war, bankruptcy, death, etc.
3
Q
Notice to Third Parties of Termination
A
Must occur, otherwise third parties could be led into a transaction with the agent.
