Asked by Cooper Lumsden on Apr 30, 2024
Verified
Which of the following is true regarding notice of termination of an agency relationship?
A) Notice of termination of an agency relationship must be given by actual notice.
B) Depending on the circumstances, notice of termination can be actual or constructive.
C) Notice of termination of an agency must be given in writing.
D) Actual notice of termination of an agency relationship is not needed once 30 days have passed since the termination because at that point notice is presumed.
E) Actual notice of termination of an agency relationship is not needed once 60 days have passed since the termination because at that point notice is presumed.
Actual Notice
Directly being informed about something or being aware of a fact or situation.
Constructive Notice
A legal concept that assumes a person is aware of facts, notices, or documents even if they are not physically present, often used in property law to signify recorded documents.
- Understand the legal obligations involved in issuing a termination notice for an agency relationship.
Verified Answer
ZK
Zybrea KnightMay 06, 2024
Final Answer :
B
Explanation :
Notice of termination of an agency relationship can be either actual or constructive, depending on the circumstances. Actual notice involves directly informing the concerned parties, while constructive notice involves circumstances or actions that imply the termination has occurred, without direct communication.
Learning Objectives
- Understand the legal obligations involved in issuing a termination notice for an agency relationship.
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