Reference no: EM13346497 , Length: 1196 Words
1. Bart agrees to put Sam's Super Bowl champion-ship autographed football in his sports store to sell for $1,500. Sam agrees to pay Bart a 15% commission for selling the ball. If Joe comes in the sports store and offers Bart $1,200 for the ball, can Bart accept this offer?
2. What kind of notice could a principal who no longer wants to be bound by the acts of his former agent give in order to prevent the agent from continuing to make contract in the principal's name.
3. Hardy is a CPA who prepares Hunter's tax return for a fee. Hardy prepares Hunter's return at the end of the filing season when he is really rushed for time and he misses several deductions that cost Hunter hundreds of dollars in tax liability. What responsibility does Hardy owe to Hunter?
4. In the question above, consider Hardy is just Hunter's neighbor who knows something about taxes and he does Hunter's return gratuitously. What is Hardy's responsibility to Hunter in this situation?
5. Mr. Donnie Dim worked as a research assistant for a law firm while he was attending State U School of Law. He found a way to hack into proprietary legal research databases and do his research at little or no cost to his firm. His performance was so good that the law firm offered him a full time job on graduation from law school. The hacked databases find out about Danny's scam and sue the law firm for damages. The law firm claims it did not know of Donny's actions and would not have condoned it. Was Danny acting as the firm's agent?
Case Problem
Mary Fletcher entered into an exclusive listing agreement with Robert Hicks, a licensed real estate broker, to have him help her sell some land and buildings. During the period of the listing agreement, Hicks was in contact with a number of prospective buyers, including Walter Steere. When the listing agreement expired and the property was still unsold, Fletcher and Hicks agreed that Hicks would continue to market the property for her. Soon thereafter, Hicks told Fletcher that he had an offer from Steele to buy the property for $1 .1 million. After Fletcher accepted
Steele's offer, she learned that Hicks and Steel had purchased the property together as partners.
Has Hicks violated his agency duties to Fletcher? Explain.