Sometimes, agency relationships terminate due to circumstances or changes affecting the contract or the subject property. The term used for the termination of agency for these reas... Sometimes, agency relationships terminate due to circumstances or changes affecting the contract or the subject property. The term used for the termination of agency for these reasons is:
Understand the Problem
The question is asking for the term that describes the termination of an agency relationship due to specific circumstances or changes related to the contract or property. Four options are provided, and one of them correctly identifies the relevant term.
Answer
Renunciation.
The final answer is renunciation.
Answer for screen readers
The final answer is renunciation.
More Information
Renunciation occurs when the agent unilaterally decides to terminate the agency relationship. This can sometimes incur liability if it violates a specific term in the contractual agreement.
Tips
A common mistake is confusing 'renunciation' with 'revocation.' Renunciation is initiated by the agent, while revocation is initiated by the principal.
Sources
- Quizlet - Chapter 9: Termination of Agency - quizlet.com
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