Tropical Vittles,LLC,hires Sophie to act as its agent to buy a ten-acre tract of land from Rico for $1,000 per acre.Tropical Vittles does not want Rico to know that it is the principal or that Sophie is its agent.Tropical Vittles wants the land for a new fast-food restaurant,and believes that Rico may not sell the land for that purpose or may demand a premium price.Sophie makes the purchase,signing only her name to the contract as the buyer and not disclosing to Rico the agency relationship.The transfer of the deed is to occur on May 1.Rico learns of Tropical Vittles's identity on April 15.Can Rico legally refuse to deed the property on May 1? Explain.
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q32: Omar hires Petra,a real estate broker,to act
Q33: Fact Pattern 33-1A (Questions A10-A11 apply)
Ulani indicates
Q34: Emery is an agent for Downtown Market
Q35: Fact Pattern 33-1A (Questions A10-A11 apply)
Ulani indicates
Q36: Meals n' More,Inc.,a catering company,requires its customers
Q37: Clive is a purchasing agent for Double
Q38: Commercial Development Corporation (CDC)hires Delta Construction Company
Q39: Homer is an officer of Integrity Corporation.With
Q40: Frida hires Gert,a real estate broker,to act
Q41: Brenda is a purchasing agent for Commodities
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