Cengage Advantage Books: Business Law 9th Edition by Arnold Goldman ,William Sigismond

Exercise 5

Agrest had a power of attorney from a principal. He gave his principal's property to his own wife, who then proceeded to sell the property to a third party. The power of attorney was silent about the right to donate the principal's property. The principal sued Agrest, claiming that Agrest had breached his fiduciary duty. Will the principal succeed? (Matter of Agrest, 279 A.D.2d 471)