Carl loans Dan $1,500 for Dan's honeymoon.Dan gives Carl his ruby ring as security for the loan and after a year,tells Carl he may as well sell it to recoup the $1,500.When Dan's wife hears of this,she persuades Dan to call Carl and get back the ring.Can Carl sell it anyway?
A) No,because Carl's agency has been revoked
B) No,because an unreasonable amount of time has elapsed
C) Yes,because Carl has apparent authority
D) Yes,because Dan cannot terminate this agency

Question

Quizplus · Accepted Answer

Dan cannot terminate the agency because he has already given Carl permission to sell the ring to recoup the loan, making it an irrevocable agency.

Carl Loans Dan $1,500 for Dan's Honeymoon