How can agency be terminated by the act of the parties?

Quiz on Termination of Agency

Quiz
•
Other
•
University
•
Hard
ZURAMAZNUM SAINAN
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
By unilateral decision
By court order
By mutual consent
By legal notice
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is required for the principal to revoke the agent's authority?
No notice required
Reasonable notice
Implied notice only
Express notice only
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
In which situation the principal cannot revoke the agent's authority?
When the agent is dishonest
When the agent is incompetent
When the agent is unavailable
When the agent has an interest in the property
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
When is the agency terminated by operation of law?
By principal's retirement
By completion of the contract
By mutual agreement
By agent's decision
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What happens if the principal dies and the agent has an interest in the property?
The agency is terminated
The agent must pay a fee
The agent must resign
The agency continues
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
In case of the principal's death, when is the termination effective?
Upon third-party's knowledge only
Immediately
After 24 hours
Upon agent's and 3rd party's knowledge
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What happens if the agent renounces the business without notice?
The agent must compensate the principal
The agency is terminated
No consequences
The principal must pay damages
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