Asked by Jonas Hauser on Jul 12, 2024
Verified
The principal's death automatically terminates an existing agency under the Restatement (Third)of Agency.
Restatement (Third)
A reference to the third series of the Restatements of the Law, which are authoritative summaries of common law in the United States, aimed at clarifying, modernizing, and improving the law.
Automatic Termination
A clause within a contract or agreement that causes it to end automatically upon the occurrence of specific conditions.
- Understand the effect of a principal’s death on agency relationships and agent authority.
Verified Answer
RT
Raphael TaiwoJul 17, 2024
Final Answer :
False
Explanation :
Under the Restatement (Third)of Agency,termination of agency by the death of the principal is effective only when the agent has notice of the principal's death.
Learning Objectives
- Understand the effect of a principal’s death on agency relationships and agent authority.
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