Martin,who wants to sell his house,authorizes his concierge,William,to find a potential buyer and finalize a deal above a stipulated price.William contracts Chris,a real estate broker,and intends him to only find a potential buyer and send him or her over to William for the sale.Martin then contracts ReNowait Goodhouses,a home improvement company,to renovate the house.ReNowait completes its work and Martin pays the company.Chris then searches for a suitable buyer and finds one in George.George buys the house and Chris is paid for his services.In this scenario,who is the principal during the land sale transaction?

Question

Quizplus · Accepted Answer

Martin is the principal during the land sale transaction as he is the owner of the property and authorized William to find a potential buyer and finalize the deal. William and Chris are agents who acted on Martin's behalf to find a buyer, while ReNowait Goodhouses provided a service to Martin and was not involved in the sale transaction. George is the buyer and not a principal in the transaction.

Martin,who Wants to Sell His House,authorizes His Concierge,William,to Find a Potential