Marina just down the shore or may demand premium price

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Reference no: EM131166417

Lakeside Resort hires Micheline to act as its agent to buy a 1,000-acre waterfront tract of land from Nabil for $1,000 per acre. Lakeside does not want Nabil to know that it is the principal or that Micheline is its agent. Lakeside wants the land for a new marina, and believes that Nabil may not sell the land for that purpose because Nabil already owns a marina just down the shore or may demand a premium price. Micheline makes the purchase, signing only her name on the contract as the buyer and not disclosing to Nabil the agency relationship. Lakeside gives Micheline the amount to pay for the land, but she absconds with the funds. Nabil soon learns of Lakeside’s identity.

Reference no: EM131166417

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