Selling her car Diane has a duty of loyalty to Rob

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1/3/15 1:03 AM Business Law - Chapter 28 flashcards | Quizlet Ready to study? Start with Flashcards Business Law - Chapter 28 80 terms by PattersonVT Rob agrees to act as an agent for Diane in
Page 1 of 12 your agents if the agents are violating your instructions.
selling her car. Diane has a duty of loyalty to Rob. Dwayne agrees to serve as Walker's agent in
booking spots for Walker's portable basketball game. Dwayne asks Walker for pictures and size specifications of the game so he can provide potential customers information they need. If Walker does not provide the pictures and size information, he is breaching a duty to Dwayne. Larry decided to relocate to Germany. Larry
hired Happy Homes, Inc. to find a buyer and contract for the sale of his house in the U.S. The agency relationship between Larry and Happy Homes must be evidenced with a written agreement. An agent must obey any and all instructions
of the principal. Jolene hired Lacy to find a buyer for her
house. Adam was interested in buying the house. If both Jolene and Adam agree, Lacy, a real estate agent, may represent both parties. You cannot be held liable for the actions of
1/3/15 1:03 AM Business Law - Chapter 28 flashcards | Quizlet The bankruptcy of an agent automatically
Page 2 of 12 expenses incurred in carrying out agency responsibilities, but the principal will not be responsible for indemnifying an agent for any unauthorized purchases.
terminates an agency relationship. Generally, either party to an agency
relationship has the power to terminate it at any time. Victoria is the director of marketing for Big
Corporation. Victoria needed to negotiate an out-of-town contract on behalf of Big. Big has a legal duty to reimburse Victoria for the hotel expenses she incurs negotiating the contract. John is the trustee of a large testamentary
trust. Lori is the sole beneficiary of the trust. Because John is the trustee, he is Lori's agent. Kaiya is a sales representative of TriColor.
Kaiya owes a fiduciary duty to TriColor. It does not create an agency relationship
between Minott Mills and Douthett Co. for Minott Mills to contract to sell 500 yards of fabric to Douthett Co. A principal must indemnify an agent for any

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