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

Question

Quizplus · Accepted Answer

Martin is the owner of the house and authorized Wilhelm to find a buyer, therefore he is the principal during the land sale transaction. Wilhelm and Chris are agents, and ReNowait Goodhouses is a contractor hired by Martin for renovations. George is the buyer, but not the principal.

Martin, Who Wants to Sell a House He Owns, Authorizes