What does the term "fulfillment of purpose" refer to in the context of agency termination?

The term "fulfillment of purpose" in the context of agency termination pertains to the completion of the client's goals. This means that the agency relationship comes to an end when the specific objectives or objectives outlined in the agreement between the agent and the client have been achieved. For example, if a real estate agent was engaged to sell a property, once that property has been successfully sold, the purpose of the agency has been fulfilled, leading to the termination of the agency agreement.

The other choices do not capture the essence of this concept. Finalization of contracts refers more to the legal completion of documents rather than the achievement of goals. Mutual agreement to cancel indicates a joint decision to end the relationship, but it does not necessarily imply that the original objectives have been met. Settlement of fees focuses on financial aspects rather than the overall success or fulfillment of the client’s aims. Thus, the notion of "fulfillment of purpose" is closely tied to achieving the client’s goals within the scope of the agency relationship.