Ask Question
BusinessBusiness
16 March, 05:20

true or false An agent may continue to represent the principal even after the agency relationship is terminated.

+1
Answers (1)
  1. 16 March, 05:35
    0
    False

    Explanation:

    Agency refers to a kind of agreement wherein the first party, known as the Principal confers a right on the second party, called an agent, to act on his behalf or as per his directions.

    It establishes a fiduciary responsibility i. e that of a legal trust between the parties.

    Once the agency agreement is terminated, the relationship between a principal and an agent ceases. Thereafter, the agent cannot continue representing the principal and if he does, he shall be held personally liable for such acts which result into any damage or loss to a third party.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “true or false An agent may continue to represent the principal even after the agency relationship is terminated. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
True or False: The basic economic theory of supply and demand suggests that when price drops, consumers will buy more and thus generate stronger demand.
Answers (1)
What downsides might brazil experience by implementing quotas, tariffs, and measures to devalue its currency
Answers (1)
Using the following account balances for Garry's Tree Service, prepare a trial balance. If an amount box does not require an entry, leave it blank.
Answers (1)
Harmark has three product lines in its retail stores: kites, wind socks, and flags. Results of the fourth quarter are presented below: Kites Wind Socks Flags Total Units sold 1,000 2,000 2,000 5,000 Revenue $ 22,000 $ 40,000 $ 23,000 $ 85,000
Answers (2)
The distribution of income for Dismal is as follows: Number of Families Income 1,000 less than $10,000 2,000 between $10,000 and $20,000 2,000 between $20,000 and $30,000 800 between $30,000 and $40,000 200 over $40,000 If the poverty rate in Dismal
Answers (1)
New Questions in Business
That the total dollar amount of the debits equals the total dollar amount of the credits in the ledger accounts can be verified through a (n) a. balance sheet b. trial balance c. chart of accounts d. income statement
Answers (1)
Coronado Shoes Fool Inc. is involved in litigation regarding a faulty product sold in a prior year. The company has consulted with its attorney and determined that it is possible that they may lose the case.
Answers (1)
Suppose during 2014 that Federal Express reported the following information (in millions) : net sales of $35,497 and net income of $98.
Answers (2)
During a certain four-year period, the consumer price index (CPI) increased by 30%, but during the next four-year period, it increased by only 10%. Which of these conditions must have existed during the second four-year period? A. Deflation B.
Answers (2)
Flagstaff Company has budgeted production units of 7,900 for July and 8,100 for August. The direct materials requirement per unit is 2 ounces (oz.).
Answers (1)
Home » Business » true or false An agent may continue to represent the principal even after the agency relationship is terminated.
Sign Up Forgot Password?