Asked by Kaitlyn Guevara on May 14, 2024

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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.
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Verified Answer

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Tiffany McCoyMay 19, 2024
Final Answer :
D
Explanation :
Lapse of time is a method of terminating an agency relationship by mutual agreement or as stipulated in the contract, not by operation of law. Death, bankruptcy, impossibility, and war are all events that can terminate an agency relationship by operation of law without the parties' intervention.