What is the term for the rejection of an agreement by the individual who accepted it, ending the agency relationship?

The term that accurately describes the rejection of an agreement by the individual who accepted it, thereby ending the agency relationship, is renunciation. Renunciation refers specifically to the act of an agent when they voluntarily choose to end their role within the agency. This can encompass situations where the agent no longer wishes to fulfill their obligations or duties as prescribed in the agency agreement.

In contrast to renunciation, terms like revocation typically refer to the principal's act of withdrawing authority from the agent, while discharge can pertain to the general termination of obligations under a contract rather than specifically the agent's voluntary decision. Termination, while it might seem broadly applicable, generally encompasses a wide range of reasons for ending an agency relationship, including mutual agreement or the fulfillment of purpose, without pinpointing the agent's specific refusal as seen in renunciation. Thus, renunciation is the most precise term for this scenario.