What is the main legal issue

Assignment Help Business Management
Reference no: EM132969912

Joe is an employee and agent for Harry's Fine Cars Ltd. The manager, Fred, told Joe that he had no authority to make any sale, take a trade-in, or otherwise deal with the vehicles without Fred's express approval of every deal. Sam, a customer, came in wanting to buy a used Cadillac and agreed to pay the $60,000 asking price. Unfortunately, Fred was away from the lot, and so Joe took it upon himself to write up the agreement. When back, Fred reviewed the contract and was happy with it. However, the customer came back saying he not like the deal and wanted a full refund.

-What is the main legal issue?

-Must Fred honor the contract? Did Joe have the authority to bind the seller in contract? Explain with reasons.

Reference no: EM132969912

Questions Cloud

Explain the purpose of recording : When preparing budgets and estimations for a project what areas would you take into consideration when creating the financials for a project?
Prepare a separate cash budget for each of the six months : Prepare a separate cash budget for each of the 6 months, January to June 2020. Ken Dunlop of Dunlop's Dishes wishes to prepare a cash budget
What is new percentage ownership : An investor offers your startup $4 million at a $18 million dollar post-money valuation. What is your new percentage ownership?
Should be long or short the contracts : Should you be long or short the contracts? If your equity holdings are invested in a market-index fund, into how many contracts should you enter?
What is the main legal issue : Joe is an employee and agent for Harry's Fine Cars Ltd. The manager, Fred, told Joe that he had no authority to make any sale, take a trade-in, or otherwise dea
How should invest your money so that investment portfolio : Suppose you have two assets, How should you invest your money so that your investment portfolio will have a risk level of 24%?
Amount of the insurance? settlement : Asa has invested money from the settlement of an insurance claim. She plans to withdraw ?$560 from her savings account at the end of each month for three years.
How much are worth now if convert the note at the pre-money : A cap of $15 million dollars, how many shares do they own and how much are they worth now if they convert their note at the pre-money valuation?
How would decide how much equity to give : If you have concerns about a potential co-founder's work ethic how would you decide how much equity to give and how would you give it

Reviews

Write a Review

Business Management Questions & Answers

  Create an ethical statement for the organization

Create a mission, vision, and value statement for the proposed agency. Create an ethical statement for the organization. Briefly explain how this proposed agency will address or attempt to resolve the issue

  What are the initial results-benefits

What are the initial results/benefits? What will be the future of Big Data analytics at Discovery? (Discovery Health Turns Big Data into Better Healthcare)

  Identify an area of opportunity for your chosen company

Identify an area of opportunity for your chosen company. Then develop a PIC for your chosen company. You can find examples and more about a PIC through searching online.

  Prepare a briefing note for the organisational change

Develop a "TO BE" and "AS IS" process using BPMN or UML then compare theAs-Is and To-be diagrams to assess the impact of change and prepare a briefing note for the Organisational change and Training Team regarding the anticipated business impact o..

  Important component of project planning

Why is cost estimation such an important component of project planning? Discuss how this process related to the Work Breakdown Structure and the project schedule.

  Good relations with the community and farmers

Based on this scenario, where would the firm's good relations with the community and farmers be placed in a PEST?

  Types of job design

Which of the types of job design is most likely to be used in the future? Which would benefit the organization the most?

  The literature on honeypots or so called fake networks

The literature on honeypots or so called "fake networks" to attract hackers and attackers frequently mentions "entrapment" as one of the legal

  Company long-run profitability

Evaluate how high barriers to entry into the industry may influence your company's long-run profitability.

  How well should the security plan for the dnc have

How well should the security plan for the DNC have worked had there been a crisis?

  Difference between commodity money and fiat money

To get the idea of thinking about the difference between commodity money and fiat money, do you know what item is used as money in prison

  Liquidity of home mortgages since the late

How have financial innovations increased the liquidity of home mortgages since the late 1970s? Has this increase in liquidity tended to increase or decrease the interest rate on home mortgages? Explain why.

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