By expuration of time
By revocation, renunciation, and cancellation
- effective when other party obtains notice.
By operation of law
- Death of principal - effective immediately after the death, even if agent doesn't have notice (NY rule), except agent banks require notice and death of principal in military does not terminate power of attorney until agent /w the power receives notice.
- Death of agent - effective immediately
- Principal's loss of capacity - may be overcome if agent has durable power of attorney
- Agent's breach of fiduciary duty
EXAM NOTE: Agency questions frequently ask examinees to determine if a principal is liable for terminating an agency relationship early, where there is a written agreement between the parties. Before you answer yes, remember that it depends. If you want to terminate agency without liability, look for an act of breach by the agent.