Question
I am having trouble with this question.. Lakeside Resort hires Melody to act as its agent to buy a 1,000-acre waterfront tract of land from
I am having trouble with this question..
Lakeside Resort hires Melody to act as its agent to buy a 1,000-acre waterfront tract of land from Ralston for $1,000 per acre. Lakeside does not want Ralston to know that it is the principal or that Melody is its agent. Lakeside wants the land for a new marina, and believes that Ralston may not sell the land for that purpose or may demand a premium price. Melody makes the purchase, signing only her name on the contract as the buyer and not disclosing to Ralston the agency relationship. Lakeside gives Melody the amount to pay for the land, but she absconds with the funds. Ralston soon learns of Lakeside's identity. Against whom can Ralston enforce the contract?
Wouldnt Ralston only be able to enforce the contract on Melody since she signed the contract?And since she singed the contract it would be safe under the Statute of Frauds, meaning they could not go after Lakeside Resort because it was done correctly.Also wouldn't Lakeside Resort be considered a disclosed principal?
Do you feel I am missing any main points to include in this answer?
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