An agency that cannot be terminated by an owner is referred to as what?

An agency that cannot be terminated by an owner is referred to as an agency coupled with an interest. This type of agency arises when the agent has a vested interest in the subject of the agency, meaning that the agent has a personal stake or right that is dependent on the agency relationship. Because the agent's interest is tied so closely to the transaction or property involved, the principal (owner) cannot terminate the agency unilaterally without potentially causing harm to the agent's interest.

For example, if an agent has a financial interest in a property they are managing, the owner cannot easily revoke the agent's authority without breaching the agreement or harming the agent's vested rights. This legal framework protects the agent's interests and ensures that both parties are aware of the implications of this type of agency.

In contrast, general agency, special agency, and dual agency involve different relationships and conditions under which either party typically maintains greater flexibility in terms of termination. General agencies might have broader powers but can generally be terminated by the principal. Special agencies typically grant limited powers to the agent and do allow for termination, while dual agency refers to an agent representing both parties in a transaction, which also can be terminated by the principal involved.