Reliable Insurance Company employs Stuart as an agent. To terminate Stuart's authority, Reliable Insurance must notify Group of answer choices Stuart only. Stuart and any third parties who are aware of the agency relationship. the public generally. only third parties who are aware of the agency relationship.

Question

Social Studies

Margaret Larson

7 December, 03:19

Reliable Insurance Company employs Stuart as an agent. To terminate Stuart's authority, Reliable Insurance must notify Group of answer choices Stuart only. Stuart and any third parties who are aware of the agency relationship. the public generally. only third parties who are aware of the agency relationship.

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Answers (1)

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Casey Nichols · Answer 1

To terminate Stuart's authority, Reliable Insurance must notify Stuart and any third parties who are aware of the agency relationship.

Explanation:

An Agent according to law is someone who has the authority to act on behalf of a Principal.

In this case, Stuart is an agent of Reliable insurance (which is the Principal).

As Stuart acts on behalf of Reliable Insurance, he comes into contact with other third parties. As such if his authority is to be terminated, then the law states that Stuart, as well as any third party he has had dealings with on behalf of Reliable Insurance, must be notified.