What is the agency formation

Assignment Help Management Theories

Reference no: EM131470767

Question: Agency Formation. Pete Gaffrey is a well-known, wealthy financier living in the city of Takima. Alan Winter, Gaffrey's friend, tells Til Borge that he (Winter) is Gaffrey's agent for the purchase of rare coins. Winter even shows Borge a local newspaper clipping mentioning Gaffrey's interest in coin collecting. Borge, knowing of Winter's friendship with Gaffrey, contracts with Winter to sell to Gaffrey a rare coin valued at $25,000. Winter takes the coin and disappears with it.

On the date of contract payment, Borge seeks to collect from Gaffrey, claiming that Winter's agency made Gaffrey liable. Gaffrey does not deny that Winter was a friend, but he claims that Winter was never his agent. Discuss fully whether an agency was in existence at the time the contract for the rare coin was made.

Reference no: EM131470767

Questions Cloud

What is the purpose of workers compensation laws : What federal statutes govern wages and worker health and safety in the workplace? What is the purpose of workers' compensation laws?

Equation using rectangular coordinates : 1. The letters r and O represent polar coordinates. Write the following equation using rectangular coordinates (x, y) r=10cosO

What are the three primary communication areas : What are three primary communication areas that a performance management system should address? What are most effective ways for these areas to be communicated.

Select at least three trends that will transform global hr : Select at least three trends that will transform global HR and describe how these trends will affect organizations and HR professionals.

What is the agency formation : Agency Formation. Pete Gaffrey is a well-known, wealthy financier living in the city of Takima. Alan Winter, Gaffrey's friend, tells Til Borge that he (Winter).

Launch speed in si units : Express the launch speed in SI units (meter-kilogram-second (MKS) system.

Explain agents duties to principal : Agent's Duties to Principal. Iliana is a traveling sales agent. Iliana not only solicits orders but also delivers the goods and collects payments.

Acceleration of the aircraft when it launches : What is the acceleration of the aircraft when it launches? Express your answer in the MKS system of units.

Block of wood and stays in the wood : A 0.11 kg bullet traveling at 1565 mph hits a 6.3 kg block of wood and stays in the wood. What is the velocity (speed) of the wood block immediately after the b

User Account

All Pages