Author Question: How might an agent protect himself or herself from liability if the project he or she is working on ... (Read 14 times)

laurencescou · **on:** Jul 26, 2018

How might an agent protect himself or herself from liability if the project he or she is working on for a principal is destroyed by fire, an earthquake, or flooding?

What will be an ideal response?

Question 2

Explain the different ways in which an agency contract could be terminated between a principal and an agent.

What will be an ideal response?

Bsand8 · **Reply #1 on:** Jul 26, 2018

Answer to Question 1

An agent may protect himself or herself from liability if the project he or she is working on for a principle is destroyed by fire, an earthquake, or a flood by ensuring that the agency contract states that if the project is inadvertently destroyed this would terminate the contract.

Answer to Question 2

An agency contract between a principle and an agent may be terminated by completion of the agency contract, reaching the end date of the agency agreement, by mutual agreement of the principles and agent, by breach of contract, or when an agent of the principle passes away.