Tuesday
September 2, 2014

Homework Help: business law

Posted by singh on Thursday, April 12, 2007 at 2:58pm.

If the law changes that the actions called for in an agency arrangement become illegal after the agency has been carried on legally for some period of time, what is the consequence?

a)Agency is terminated retroactively and the parties are left where they are.
b)Agency is terminated retroactively and the parties must each return any consideration received fro the other.
c)Agency is terminated effective upon the change in law taking effect.
d)Agency is not terminated, but the principal and agent will each become liable for his or her own illegal actions.
e)Agency is not terminated, but the principal and agent will each become liable for the illegal actions of the other.

is it d? both will be held liable for illegal actions for his or her own actions

Yes, in most jurisdictions, d would be the answer.

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