can u please rephrase these notes and explain them in your own words?

With regard to termination by actions of one or both of the parties, the duration ofthe agency relationship is commonly stated in the contract creating the relationship. In most cases, either party has the power to terminate the agency relationship at any time. However, the terminating party may be liable for damages to the other party if the termination is in violation of the agency contract. When a principal terminates an agent's authority, it is not effective until the agent receives the notice. NOTE: Because a known agent will have the appearance of still being agent. notice must be glyen to third persons of the termination [as the agent may have the power to bind the principal and third person until this notice is giyenl. With further reference to termination by operation with law note that the agency relationship Is a personal one and anything that renders one of the party's incapable of preforming will result in the termination of the relationship by operation of law. The death of either the principal or the agent automatically, even if the death is unknown to the other. An agency is also terminated by operation of law when; 1. Insanity of the agent or principal. 2. Bankruptcy of the principal or agent. 3. Impossibility of performance [destruction of the subject matter} DR 4. When the country of the principal is at war with that of the agent. NOTE: Can quit at anytime but you must comply to agency contract