Gaye agrees to act as a sales agent for Homewood Company on a commission basis. They further agree that either party can terminate the agency relationship at will. If Homewood ends their deal, the act of termination is called

Question

Quizplus · Accepted Answer

Revocation is the correct term when a principal, in this case, Homewood Company, decides to terminate the agency relationship that it has with its agent, Gaye. This term specifically refers to the principal's act of ending the agency agreement before its term or purpose is accomplished.

Gaye Agrees to Act as a Sales Agent for Homewood