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What is Termination of Agency Relationships about?

An agency relationship is formed when a principal appoints an agent to act on their behalf. The agent owes fiduciary duties of loyalty, obedience, and reasonable care to the principal. An agent can have actual, apparent, or ratified authority from the principal to bind them in contracts. There are different types of bankruptcy proceedings available under Chapters 7, 11, and 13 that can discharge individual and business debts. Bankruptcy filing triggers an automatic stay of collection efforts against the deb

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