Joe makes an agreement with mickey to sell the costume

Assignment Help Management Theories

Reference no: EM133542902

Question: Georgia collects 'Disney" merchandise and appoints Joe as her agent to purchase three framed pictures from another collector, Mickey. Georgia gives Joe a limit of $10,000 to spend, which Joe promptly deposits in his own bank account "to keep it safe until it is needed". Georgia also instructs Joe to keep the purchase confidential. Joe is very pleased and proud of his appointment as Georgia's agent and tells three of his closest friends, but swears them all to secrecy. Two of these friends work in the same industry and immediately tell their employers. Joe approaches Mickey and introduces himself as Georgia's agent. Following negotiations it is agreed that Mickey will sell the Pictures to Georgia for $12,000. When Georgia is informed of the contract, she refuses to be bound, maintaining that Joe did not have the authority to make it. Mickey disagrees and wants to proceed with the sale. When Joe was inspecting the pictures, he noticed that Mickey also had the original costume used in the 2004 Warner Bros. movie "Batman". Joe makes an agreement with Mickey to sell the costume to Georgia for $15,000.

Reference no: EM133542902

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