Chapter 36

Chapter 36 - Chris Hertzog BA 242 Chapter 36 Problems 1. In...

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Chris Hertzog BA 242 Chapter 36 Problems 1. In this case, the issue arises because John put Wade in charge of the family business. John told wade (express authority) to manage the business, and to do whatever is necessary to run the business, i.e.… hire, fire, look for contracts, assign jobs, and payroll. Wade then goes out and borrows 20,000 dollars from Hausam. Then Wade forgets to pay the loan back and Hausam files suit. John can be held liable as well as the business because from Hausam’s point of view, Wade was an agent with apparent authority acting on behalf of John. My opinion is that John settles the debt and then forces his son to work 3 jobs to pay for it. 3. The issue here is whether or not Tighe has ratified an unauthorized transaction. Tighe noticed an unauthorized transaction on his statement, when he questioned it, the broker lied about the availability of the investment and led Tighe to believe that his investment in the limited partnership was not available on the market and should return
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Chapter 36 - Chris Hertzog BA 242 Chapter 36 Problems 1. In...

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