d$.$ Ogden will not be liable because Ogden was a nondisclosed principal.

$24.$ Generally, an agency relationship is terminated by operation of law in all of the following situations except the

a$.$ Principal's death.

b$.$ Principal's incapacity.

c$.$ Agent's renunciation of the agency.

d$.$ Agent's failure to acquire a necessary business license.

$125.$ Bolt Corp. dismissed Ace as its general sales agent and notified all of Ace's known customers by letter. Young corp., a retail outlet located outside of Ace's previously assigned sales territory, had never dealt with Ace. Young knew of Ace as a result of various business contacts. After his dismissal, Ace sold Young goods, to be delivered by Bolt, and received from Young a cash deposit for $20\%$ of the purchase price. It was not unusual for an agent in Ace's previous position to receive cash deposits. In an action by Young against Bolt on the sales contract, Young will

a$.$ Lose, because Ace lacked any implied authority to make the contract.

b$.$ Lose, because Ace lacked any express authority to make the contract.

c$.$ Win, because Bolt's notice was inadequate to terminate Ace's apparent authority.

d$.$ Win, because a principal is an insurer of an agent's acts.

Generally, an agency relationship is terminated by operation of law in all of the following situations except the

A$.$ Principal's Death

B$.$ Principal's incapacity.

C$.$ Agent's renunciation of the agency.

D$.$ Agent's failure to acquire a necessary business license.