Final answer:
Harry received an 'Unconditional Release' from the agency relationship with Broker William, indicating a full and immediate release from any legal obligations tied to the agreement. Understanding the termination process and related terms is essential in real estate transactions to ensure legal compliance and protection for all parties involved.
Step-by-step explanation:
The subject of the question pertains to the termination of an agency relationship in a real estate context. The scenario described involves a disagreement between Broker William and Principal Harry, which results in Harry requesting to end their professional relationship. Given the facts that Harry received termination and full absolution from the agency relationship, the correct term for this scenario is Unconditional Release. This means Harry is completely released from any legal obligations to Broker William, and the agency agreement is terminated without any conditions attached.
Terminations in real estate can occur for various reasons, such as disagreements over market value or unwillingness to negotiate. Understanding the terms of termination is critical for professionals in this field to prevent legal issues and ensure clarity for both parties involved. When ensuring proper termination, one must consider the particular clauses, relevant laws, and fulfilling any necessary procedure to protect both parties' rights.