How did an agency relationship exist between any of parties

Assignment Help Business Law and Ethics
Reference no: EM133454997

Assignment:

John Warren wanted to buy a condominium in California. Hildegard Merrill was the agent for the seller. Because Warren's credit rating was poor, Merrill told him he needed a co-borrower to obtain a mortgage at a reasonable rate. Merrill said that her daughter Charmaine would "go on title" until the loan and sale were complete if Warren would pay her $10,000. Merrill also offered to defer her commission on the sale as a loan to Warren so that he could make a 20 percent down payment on the property. He agreed to both plans.

Merrill secured the mortgage in Charmaine's name alone by misrepresenting her daughter's address, business, and income. To close the sale, Merrill had Warren remove his name from the title to the property. In October, Warren moved into the condominium, repaid Merrill the amount of her deferred commission, and began paying the mortgage. Within a few months, Merrill had Warren evicted. Warren subsequently filed a suit against Merrill and Charmaine. Did an agency relationship exist between any of these parties and how?

Reference no: EM133454997

Questions Cloud

Can penny get a lawyer and be successful in a lawsuit : Can Penny get a lawyer and be successful in a lawsuit against her father to force him to pay for the trip?
How influence the development of networked e-business : Explain how the Big Five influence the development of networked e-business.
Will the remedy rabe seeks in either case be a remedy at law : Will the remedy Rabe seeks in either case be a remedy at law or a remedy at equity? What is the difference between legal and equitable remedies?
When is a search permitted if a person is arrested in a car : When is a search permitted if a person is arrested in a car?
How did an agency relationship exist between any of parties : Warren subsequently filed a suit against Merrill and Charmaine. Did an agency relationship exist between any of these parties and how?
Identify the risks and potential benefits to screen printing : Identify the risks and potential benefits to Screen Printing, Inc, from the Indemnification of Attorneys Fees and Out-of-Pocket Costs provision.
How to understand tier1 tier2 : How to understand tier1 tier2? Element of tire1 capital and tier2 capital of Myanmar financial institution?
What do you believe is most effective motivational theory : What do you believe is the most effective motivational theory?
Describe time management skills : How would you describe your time management skills? Why? What are your top three priorities when you manage your time? Explain.

Reviews

Write a Review

Business Law and Ethics Questions & Answers

  Legal environment of business caselet

The assignment in Law deals with the topic "Legal Environment of Business". A case study about Mary, a newly joined employee who is working in the USA and Europe. She faces few issues at her work place in Europe and tries to talk to her manager who s..

  Business ethics & legal issues caselet

This assignment is about the concept of Business Ethics & Legal Issues. The laws relating to these can be found in Antitrust laws. These laws are concerned with those large corporations which have a majority of market share, mergers and acquisitions.

  Questions on business law and ethics

Examples of securities that are exempted from the registration provisions of the 1933 Act and involving misstatement of material facts in a prospectus.

  Discuss the doctrine of ratification of pre-incorporation

With the aid of a decided cases, discuss the doctrine of ratification of pre-incorporation contract.

  Discuss the extent of phoenixing activity

It has been estimated that about 6,000 phoenix companies operate in Australia, costing government and the community hundreds of millions of dollars per year and impacting on individuals.

  Application of law to facts

Company Law, Application of Law to Facts and Conclusion.

  Question on business law and ethics

This assignment related to business law.

  Questions on business law

Answer all the questions under business law.

  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.

  Evaluation of software development

Prepare a report and present an evaluation of the subsequent methodologies for software development in terms of cost, resources and time.

  Business value and ethics

Business value and ethics,  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 ..

  Explain what is meant by income by ordinary concepts

Advise what tax consequences arise in respect of the payments.

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