When termination of Agency Relationship occur

Question

When termination of Agency Relationship occur?

Answer 1

Termination of an agency relationship may occur in a number of ways:

a. At the end of a time, event, or project specified in the agency agreement;

b. On notice by either party; or

c. By circumstances; for example, it becomes impossible for the agent to perform tasks, the principal or the agent dies or becomes insane, or the principal becomes bankrupt.