Question

In: Economics

what are the consequences of termination of agency

what are the consequences of termination of agency

Solutions

Expert Solution

Termination of an agency means that authority of an agent ends. Third party who is unaware about the termination of an agency may believe that the ex agent is still have an authority. To protect the third party, provide them notice of such termination. Notice can be accomplished by:

1. writing delivered to the third party to his business place or any other place seems to be appropriate.

2. Direct personal statement to third party.


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