Ms.Principal and Mr.Agent sign an agency contract under which Agent will sell Principal's house for a fee of $10,000.Assume that the contract is valid in all respects and that on the third day of the contract period,Ms.Principal tells Mr.Agent that she has changed her mind and doesn't want him to sell the house.The next day Mr.Agent goes to Ms.Principal with a ready,willing,and able buyer.Ms.Principal:
A) must sell to the buyer because the agency is still in existence
B) cannot sell to the buyer because the agency is no longer in existence
C) can recover damages from Mr. Agent because the agency had ended
D) is not obligated to sell to the buyer because her renunciation had terminated the agency arrangement
E) may sell to the buyer even though the agency arrangement was no longer in existence
Correct Answer:
Verified
Q66: A principal and agent enter into an
Q67: Ringo is a welder at a manufacturing
Q68: Pam and Alex enter into a contract
Q69: The principal hires an agent to manage
Q70: A principal gives an agent express authority
Q72: What is the significance of an agency
Q73: Principal has entered into a 6-month contract
Q74: John is hired at minimum wage in
Q75: Mickey went to eat at a local
Q76: Jack hires Frankie,who is 13 years old,to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents