List the circumstances that can lead to termination of an agency by impossibility of performance.
What will be an ideal response?
An agency relationship terminates if a situation arises that makes its fulfillment impossible. The following circumstances can lead to termination of an agency by impossibility of performance.
1. The loss or destruction of the subject matter of the agency.
Example: A principal employs an agent to sell his horse, but the horse dies before it is sold. The agency relationship terminates at the moment the horse dies.
2. The loss of a required qualification.
Example: A principal employs a licensed real estate agent to sell her house, but the real estate agent's license is revoked before he can sell the principal's house. The agency relationship terminates at the moment the real estate agent's license is revoked.
3. A change in the law.
Example: A principal employs an agent to trap alligators. If a law is passed that makes trapping alligators illegal, the agency contract terminates when the law becomes effective.
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Explain the criteria to be assessed when selecting a potential target market for export?
What will be an ideal response?
In Reilly's law of retail gravitation, the point of indifference is _____
a. the customer's perceived similarity between two competing retailers b. the geographic breaking point at which shoppers are indifferent to shopping at either of two cities c. the limit of a city's trading area d. determined solely by the merchandising effectiveness of a city's retail operations
Aurora Corporation produces outdoor security lighting products. All products go through three processes before completion. Use the expected overhead costs and related data shown below to compute departmental overhead rates based on machine hours in Department A1A; based on direct labor hours in Department B2B; and machine hours in Department C3C. Department A1ADepartment B2BDepartment C3CDirect labor hours 90,000DLH 80,000DLH 72,000DLHMachine hours 54,000MH 32,000MH 54,000MHManufacturing overhead costs$540,000 $160,000 $216,000
A. Dept. A: $10 per MH; Dept B: $5 per DLH; Dept C: $4 per MH. B. Dept. A: $10 per MH; Dept B: $2 per DLH; Dept C: $3 per MH. C. Dept. A: $10 per MH; Dept B: $2 per DLH; Dept C: $4 per MH. D. Dept. A: $6 per MH; Dept B: $5 per DLH; Dept C: $4 per MH. E. Dept. A: $6 per MH; Dept B: $5 per DLH; Dept C: $3 per MH.
Implied conditions are not understood to be part of an agreement but are found in the express language of the agreement
Indicate whether the statement is true or false