What is the term for the termination of an agency by the principal?

The term for the termination of an agency by the principal is revocation. This is a recognized concept in agency law where a principal has the authority to terminate the agency relationship at any time, provided it does not violate any contractual obligations that may exist between the principal and the agent. Revocation can occur for various reasons, such as changes in business circumstances or dissatisfaction with the agent's performance.

In contrast, resignation refers to the agent's decision to end the agency relationship, which is not initiated by the principal. Redemption and retraction are terms that do not apply to the termination of agency relationships in this context. Hence, revocation is the appropriate term used to describe the principal's action to terminate the agency.