Describe the agency relationship

Assignment Help Business Law and Ethics
Reference no: EM13749661

Consider the following scenario: Barnett was orally hired by Paula to locate desirable real estate that she could use for rental property. She stated she wanted to find a four-plex that could be purchased for under $200,000 that could be rented for at least $1,000 per month per unit (which equates to $4,000 rental per month for the property). 
Barnett located a four-plex that could be purchased for $160,000 and was renting for $1,200 per unit. It was such a good deal that he purchased it for himself. About two months later he found a second property that was listed for $199,000 and rented for $1,000 per unit. Paula purchased the property. Afterwards, she learned that Barnett had bought the $160,000 four-plex for himself without telling her about it. 
Paula believes that Barnett has acted improperly. Barnett claims that he did what she asked: he found a property for under $200,000 that rented for $1,000 per unit. He also claims that since their agreement was oral, he has a legal defense if she pursues the matter in court. 
Discuss the following: 
1. Describe the agency relationship in this scenario. Identify the principal and the agent. 
2. Do you believe there was mutual consent for the agent to act on behalf of the principal? 
3. Do you think that the agent was subject to the principal's control? 
4. What questions about agency does this case raise? 
5. Suppose you were a judge: which side would you agree with, and why?

Verified Expert

Reference no: EM13749661

Questions Cloud

What tests and methods of assessment should use : Jack was brought into the rehabilitation unit last week. Three weeks ago he suffered a head injury in a car accident. He has been referred to your office to determine the extent of his cognitive damage. What tests and methods of assessment should you..
Mortgage investment fraud : Write 1,050-word proposal about a problem identified in the case study that requires intervention
Analysis and documentation of functional requirements : Systems analysis activities require analysis and documentation of functional requirements. This is accomplished through data and information gathering, through review of existing documentation, interviews, surveys, observations, and searches through ..
Who was the macedonian ruler that invaded india : Who was the Macedonian ruler that invaded India in an effort to bring the vast territory under the influence of his empire.
Describe the agency relationship : Consider the following scenario: Barnett was orally hired by Paula to locate desirable real estate that she could use for rental property. She stated she wanted to find a four-plex that could be purchased for under $200,000 that could be rented for a..
Write a short summary of the issue and the outcome : For most of history, the concept of career planning was unknown. By and large, people were born into their jobs. Whatever their parents were they became too. In the 18th and 19th centuries, the Industrial Revolution profoundly altered the employment ..
Explain how would you evaluate the hco'' culture : Explain how would you evaluate the HCO''s culture? What measures show that the culture is effective? How would you identify opportunities for improvement in the culture?
Discuss exempt securities pursuant to the securities act : Discuss exempt securities pursuant to the Securities and Exchange Act - Determine whether or not Langley Brothers would be subject to registration requirements.
Made in full at the start of the boating season : Made in full at the start of the boating season, April 1, 2015. Slips for the next season may be reserved if paid for by December 31, 2014. Under a new policy, if payment is made by December 31, 2014, a 5% discount is allowed. The boating season ends..

Reviews

Write a Review

Business Law and Ethics Questions & Answers

  Which of the four police roles do you believe is the most

1. list four most common police activities in each of the four different police roles described in the lecture

  Advise both parties about their legal position

Edward is outraged at Jane's declaration and his first response has been to sue her for the $30,000 that he claims is outstanding from his refitting the coffee shop -Advise both parties about their legal position in respect to this dispute between ..

  Could the company be found guilty of motor vehicle homicide

The state charged the Todesca corporation with motor vehicle homicide, and the jury found the company guilty. The trial judge imposed a fine-of $2,500. The court of appeals reversed the conviction, and the prosecution appealed to the state's highe..

  Be sure to outline the dual court system of the united

write a 1050- to 1400-word paper in which you describe the major historical developments of the u.s. courts. be sure to

  How is rebt different from psychodynamic therapy how is

how is rebt different from psychodynamic therapy? how is rebt different from client-centered therapy? briefly describe

  Does the court system have adequate protections in place

the issue of wrongful convictions is a problem that has haunted court systems throughout the united states. the news

  Iidentify the issue raised by the facts

Iidentify the issue(s) raised by the facts, identify the relevant legal principles, apply the relevant legal principles to the facts, reach a conclusion.

  The police department has a new chief of police that has

the tidewater police department is a small rural department that consists of 22 police officers 4 detectives a

  Explain what is private nuisance and public nuisance

Explain what is private nuisance and public nuisance and give examples of each type of nuisance and what loss may Rihannanre cover from Tuff developers and why.

  What societal factors may have caused the us supreme court

what societal factors may have caused the u.s. supreme court to abandon the rule of stare decisis in the lawrence v.

  The arguments for and against the contention that the

create a 10- to 15-slide microsoftreg powerpointreg presentation based on the two following topicsmiddot the

  Wat is the purpose of having a separate legal system for

1. what is the purpose of having a separate legal system for juveniles? do you agree that a separate system is

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd