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. Identify which of the following are examples of termination by operation of law. Please select all that apply.

Termination due to bankruptcy/insolvency correct incorrect

Termination due to dissolution correct incorrect

Termination due to death of principal or agent correct incorrect

Revocation or renunciation of authority correct incorrect

Termination due to frustration correct incorrect

Expiration of fixed-term agency correct incorrect

Termination by performance correct incorrect

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. Where an agency agreement is to last for a fixed period, the, upon the expiration of that period the agent's actual authority will terminate.

True correct incorrect

False correct incorrect

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. The situation where the agent gives up the authority that has been bestowed upon him by the principal is known as ______

Your response

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. The death, dissolution, mental incapacity, bankruptcy or insolvency of the principal will always terminate the authority of the agent.

True correct incorrect

False correct incorrect

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. Which one of the following is not an irrevocable agency?

Where a power of attorney is expressed as irrevocable and is given to secure a proprietary interest of the done of the power. correct incorrect

Where the agent's authority is granted by deed for the purpose of protecting an interest of the agent that is related to his right to remuneration under the agency contract. correct incorrect

Any lasting power of attorney created under the Mental Capacity Act 2005. correct incorrect

Where, in the course of an agency relationship, the agent becomes liable to a third party, and the principal is liable to indemnify the agent for such liability. correct incorrect

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. Which of the following statements are correct? Please select all that apply.

The death of the principal will terminate the agency relationship, irrespective of whether the agent has notice of the principal's death. correct incorrect

The agent will not be entitled to compensation or remuneration for acts that occurred after the principal's death. correct incorrect

The death of the agent will terminate the agency relationship. correct incorrect

Where the principal dies, the actual authority of the agent will cease, unless it is irrevocable. correct incorrect

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. The bankruptcy/insolvency of the agent will automatically terminate the agency relationship.

True correct incorrect

False correct incorrect

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. A principal can terminate an agency agreement with a commercial agent by providing reasonable notice.

True correct incorrect

False correct incorrect

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. Which one of the following statements is incorrect?

Where the principal dies, the agency relationship and the agent's actual authority are terminated, providing that the agent had notice of the principal's death. correct incorrect

The termination of the agency relationship will not automatically terminate the agent's apparent authority. correct incorrect

The terms of a contract of agency can survive the termination of the agent's authority. correct incorrect

Where the principal revokes the agent's authority, then the agent's actual authority will not cease until such time as the agent receives notice of the revocation. correct incorrect

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. What does reg 17(6) of the Commercial Agents (Council Directive) Regulations 1993 state?

A commercial agent shall be entitled to compensation, rather than an indemnity, unless the contract of agency states otherwise. correct incorrect

A commercial agent's right to compensation or an indemnity will apply where the contract of agency is terminated due to the death of the commercial agent. correct incorrect

A commercial agent is entitled to compensation for the damage he suffers as a result of the termination of his relations with his principal. correct incorrect

A commercial agent is entitled to an indemnity if the agency contract provides that he shall receive an indemnity and he has brought the principal new customers or has significantly increased the volume of business with existing customers. correct incorrect