The Role Of Agency Affected The Parties ' Legal Positions

The Second Restatement of Contracts is very clear about the situations where acceptance is made by silence or exercise of dominion. Section 69 of the Second Restatement of Contracts provides, (1) Where an offeree fails to reply to an offer, his silence and inaction operate as an acceptance in the following cases only: (a) Where an offeree takes the benefit of offered services with reasonable opportunity to reject them and reason to know that they were offered with the expectation of compensation. (b) Where because of previous dealings or otherwise, it is reasonable that the offeree should notify the offeror if he does not intend to accept. (2) An offeree who does any act inconsistent with the offeror's ownership of offered property is bound in accordance with the offered terms unless they are manifestly unreasonable... Restatement (Second) of Contracts, §69. The core of the restatement is about the meeting of the mind and reasonableness, i.e. the implied consent or agreement by both parties. To sum up, this article clearly allows acceptance by silent action in the contracts of selling

Julianna’s real estate agent found her a home costing $600,000 in Queens, New York; she liked the property and signed a contract to purchase and deposited $5,000. She is now left with a balance due of $600,000 subtract $5,000 equal $595,000. She ordered an appraisal and it stated that the market value of the property was $550,000. The appraiser found 3 properties almost identical in the area that was recently sold; the 1rst was sold for $500,000, 2nd $550,000 and the

12. Which of the following torts committed by an agent is the liability of the principal?

“The agency relationship is defined as ‘the fiduciary relationship which results from the manifestation of consent by one person to another that the other shall act in his behalf and subject to his contract, and consent by the other so to act.’ Agents obligations relating to their players are defind not only by contact, but by the fiduciary characteristics of the relationship.” The agent owes his/her player a lot of things in their basic care to their player. These things include the fiduciary duty of undivided loyalty and the duty to act in good faith at all times. The player is going to entrust this agent with all of their fortune, reputation, and legal rights and responsibilities. Along with all of these duties the agent is going to have to abide by what the player wants and carry out what their desire are. This is a responsibility of the agent and it must only do what is desired by and for the player and must not carry out its own business affairs. “The agent must obey all of his/her players’ lawful instruction no matter how arbitrary or capricious any of those instructions seem to the agent or anyone else. However, if the player instructs the agent to perform something illegal, like bribe someone, the agent does not have to comply.”

Facts: The case arose over the prospective purchase of a residence in Baltimore, Maryland. Buyers Rebecca Cochran, Robert Cochran, Hope Grove and Robert Grove sought to buy property from seller Eileen Norkunas. The buyers presented to Ms. Norkunas a letter of intent where they specified that the two parties would execute a standard Maryland Realtors contract to finalize the purchase. The parties signed the letter of intent on March 7, 2004 and presented Ms. Norkunas a deposit check for $5,000. Shortly there after, the seller received a contract and addenda to “effect the transaction”.

On August 06, 2006, via telephone, Partner-D made the initial call to Partner-W as suggested by Goodfriend. Partner-W introduced herself as a licensed mortgage broker, working for Company-C, and that she was successful at finding affordable housing without the use of a real estate agent. Party-W was certain there were plenty of people to rent out any property obtained; that buying in the area required minimum down; a profit would occur within a year and the house would pay for itself. During this event, PartnerW was using interest-based persuasion (Shell et al., 2007) while at the same time, used the power to educate (Ury, 2007). Partner-W started out by identifying Partner-D’s interest and/or purpose for buying property, which was clearly defined (Fisher et al., 1991). And it was further determined, by the use of integrative bargaining, it would be a win-win situation and would create a shared goal for mutual gain (Fisher et al., 1991). Partner-D would be gaining extra income; and Partner-W would gain commission for the sell of the property. Partner-D went to the balcony to think about the information provided (Ury, 2007). Overall, the idea seemed like a good idea and Partner-D felt she was in good hands

In this law case, there are different issues that have come from this case that I have analyzed. This case deals with agency law. Agency law is, which is the establishment of the agency relationship, authority of agents, and the duties agents must uphold. Agency law can be very tricky because verbal and written contracts can sometimes be upheld in court or not.

Jennifer, William’s wife, has a friend Thomas who is a promoter for a corporation dealing with e-learning services that is in the process of incorporating and needs a real estate agent to purchase assets for which Jennifer has agreed to do.

The offer had been agreed upon from both parties is important. The acceptance of an offer cannot alter the terms of the specified in the offer. “An offeree accepts by saying or doing something that a reasonable person would understand to mean that he definitely wants to take the offer.” (Beatty, 2016) Once the buyers or offeree came to an

The majority, if not all, of the leads that the management distributes to the four agents of the office are for people that cannot or do not want to buy property and management knows this. There is a possibility for this strategy to be one that challenges the sales skills of the agents, but in this context, it is just another example of the unethical behavior practice and propagated by the management. Blake (Alec Baldwin) additionally shows unethical practices by verbally abusing the agents because of the lack of sales. This is an unethical as well as ineffective strategy to motivate subordinates.

The buyer’s inspection report noted that these issues were unconfirmed and that additional investigation was required before any conclusions could be drawn. Furthermore, Rong sent several emails to me asking if we had any knowledge of mold or floods. I decided increased transparency was the best way to elevate the buyer’s concerns so I provided a copy of an inspection report conducted by one of the previous potential buyers which gave the house a clean bill of health. Rong even called the realtor who represented that buyer and independently verified the condition of the property did not play a role in the subsequent withdrawal from escrow. This phantom menace became a focal point for the buyers, an issue for which there was no basis in fact yet considerable reliance.

“Men are instructed sufficiently that they know good from evil.” That statement explains how our society has created laws that are a common sense for every person. Everyone agrees that taking someone’s life is a crime, stealing is not right and being honest makes the world and relationships better. First of all, these laws exists, because almost 100 percent of society agreed that is right. Second, those laws wouldn’t exist if there were no agency. Thus, agency and legal sense are important, they help us to progress, doing what is right and keeping the order.

Please prepare an analysis of this case. Your write-up should be 4 to 7 pages. Each of the following questions should be addressed individually:

If an agency relationship is in existence, the principal is responsible for the agent’s actions.

Agency Conflicts: An agency relationship arises whenever someone, called a principal, hires someone else called an agent, to perform some service, and the principal delegated decisions making authority to the agent.