Asked by Kaitlyn Guevara on May 14, 2024
Verified
Which of the following is not a way an agency relationship will terminate by operation of law?
A) Death
B) Bankruptcy
C) Impossibility
D) Lapse of time
E) War
Operation of Law
A situation where rights or responsibilities are transferred without the direct action of the parties, often through the effect of legal statutes or regulations.
Lapse of Time
Lapse of time refers to the expiration or running out of an established period, often resulting in the termination of a right or offer due to inaction within the specified timeframe.
- Comprehend the principle of agency relationships, detailing their establishment, functionality, and dissolution.
Verified Answer
Learning Objectives
- Comprehend the principle of agency relationships, detailing their establishment, functionality, and dissolution.
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