Describe the agency relationship

Assignment Help Business Law and Ethics
Reference no: EM13749661

Consider the following scenario: Barnett was orally hired by Paula to locate desirable real estate that she could use for rental property. She stated she wanted to find a four-plex that could be purchased for under $200,000 that could be rented for at least $1,000 per month per unit (which equates to $4,000 rental per month for the property). 
Barnett located a four-plex that could be purchased for $160,000 and was renting for $1,200 per unit. It was such a good deal that he purchased it for himself. About two months later he found a second property that was listed for $199,000 and rented for $1,000 per unit. Paula purchased the property. Afterwards, she learned that Barnett had bought the $160,000 four-plex for himself without telling her about it. 
Paula believes that Barnett has acted improperly. Barnett claims that he did what she asked: he found a property for under $200,000 that rented for $1,000 per unit. He also claims that since their agreement was oral, he has a legal defense if she pursues the matter in court. 
Discuss the following: 
1. Describe the agency relationship in this scenario. Identify the principal and the agent. 
2. Do you believe there was mutual consent for the agent to act on behalf of the principal? 
3. Do you think that the agent was subject to the principal's control? 
4. What questions about agency does this case raise? 
5. Suppose you were a judge: which side would you agree with, and why?

Verified Expert

Reference no: EM13749661

What are the implications for the responding agencies

Drawing on a specific example or issue, describe how increased global mobility or technological innovation has led to the emergence of a new form of criminality. What change

Describe the impact of sir robert peel on american policing

Describe the impact of Sir Robert Peel on American policing. Analyze the relationship between the U.S. government and the policing organizations throughout the United States

Find the legality of the balloting and the ethical issues

FACTS: THE Decision Sciences Institute, Inc. (DSI) recently held balloting to amend its Constitution. Your task is to determine the legality of the balloting and the ethical i

Why should the community support the pretrial diversion

Why should the community support the pretrial diversion of juvenile drug offenders? Should they be given any more consideration than adult drug offenders? Explain your answer

Is wilson guilty of committing a crime

Jones then handed the bond to Wilson who redeemed it at the corporation's home office and received $1,000; that Wilson gave Jones $100 of the proceeds.Is Wilson guilty of co

Prepare an office memorandum

Prepare an office memorandum to answer this question: You are a paralegal working in Plentibux & Moore, a boutique Atlantic City, New Jersey law firm that specializes in whit

Identify a court case that addresses due process issues

For this assignment, begin by reviewing the Case Brief Format document. Then, identify a court case that addresses due process issues. Complete the Case Brief Format documen

Discuss the levels of the court

Summarize the salient points of the Supreme Court case Elk Grove Unified School District v. Newdow. Discuss the levels of the court through which the case evolved before it re

Reviews

Write a Review

 
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