Section 597: Termination of agency

1) Except as otherwise provided for in the contract, the agency shall be deemed to be termination of agency ipso facto, in any of the following circumstances:

(a)  If the agent voluntarily renounces the agency and gives a notice thereof to the principal,

(b) If the principal revokes the authority given to the agency or the contract of agency or gives a notice to the agent on the impossibility of performance of the contract,

(c) If the agent is appointed for any specific business and that business is completed,

(d) If the agent is appointed for a specific period and that period expires,

(e) If the principal or the agent dies or becomes of unsound mind,

(f) If the principal is declared to be insolvent,

(g) If the matter for which the agent is appointed no longer exists,

(h) If an agent is appointed by a body corporate and such a body is liquidated or dissolved.

2) The principal may revoke any or all of the authority given to the agent at any time before the agent exercises the authority. If the authority is so revoked, the principal shall immediately give notice thereof to the agent.

Provided that if the agent has already exercised some of such authority, the authority shall not be deemed to have been revoked in relation to the act already done in exercise of the authority.

3) Notwithstanding anything contained elsewhere in this Section, if the agent also has a share in the property connected with the main business of the agency, the agent may not be removed in such manner as to be prejudicial to such share.