Linton, as a sales agent for Nancy, may keep the money for the sales in his personal bank account until due to her as long as he keeps accurate records of the amounts he must separate out to pay to her.

Question

Quizplus · Accepted Answer

Even though Linton may keep the money for the sales, he cannot keep it in his personal bank account. He must keep it in a separate account or a trust account that is specifically designated for transactions related to Nancy's business. This is to ensure that the funds are kept separate and to avoid commingling of funds, which could lead to legal and ethical issues. Additionally, accurate records must be kept to ensure that Nancy receives the correct amount of money due to her.

Linton, as a Sales Agent for Nancy, May Keep the Money