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A property owner signed a 90-day listing agreement with a real estate professional. the owner was killed in an accident before the listing expired. now the listing is terminated automatically upon the death of the principal.
In a business context, principals are key figures in corporate governance. The term usually refers to the owner or key decision maker of a privately held company. This may be Chief Executive Officer (CEO), but the title is given to many individuals regardless of title.
For example, a retailer with stores has a principal place of business that sells products, trains and manages employees, manages inventory, and operates offices that oversee operations. A dentist may list the office where they perform examinations and treat patients as their primary place of business. important point. A principal is basically another name for a company owner or member. In some companies, the principal is also the founder, CEO, or major investor.
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