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Business Law: Text and Cases 15th Edition

Business Law: Text and Cases (15th Edition)

Book Edition15th Edition
Author(s)Clarkson, Miller
ISBN9780357129630
PublisherCengage
SubjectBusiness
Section 33-1: Scope of Agent's Authority
Section 33-3: Liability for Torts and Crimes
Critical Thinking
Legal Reasoning Questions
Section 33-4: Termination of an Agency
Chapter 33, End of Chapter, Business Scenarios and Case Problems, Exercise 33-5
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Business Case Problem with Sample Answer—Agent's Authority.

 

Basic Research, LLC, advertised its products on television networks owned by Rainbow Media Holdings, Inc., through an ad agency, Icebox Advertising, Inc. As Basic's agent, Icebox had the express authority to buy ads from Rainbow on Basic's behalf, but the authority was limited to buying ads with cash in advance. Despite this limit, Rainbow sold ads to Basic through Icebox on credit. Basic paid Icebox for the ads, but Icebox did not pass all of the payments on to Rainbow. Icebox filed for bankruptcy. Can Rainbow recoup the unpaid amounts from Basic? Explain [American Movie Classics v. Rainbow Media Holdings, 508 Fed. Appx. 826 (10th Cir. 2013)] (See Scope of Agent's Authority.)

Answer

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