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Paddington owns a commercial leasing business and hires Archie as a manager. While Archie is out checking on properties, one of Paddington s tenants gives
Paddington owns a commercial leasing business and hires Archie as a manager. While Archie is out checking on properties, one of Paddingtons tenants gives Archie $ as rent to deliver to Paddington. Rather than immediately taking the rent money to the business office, Archie invests the money in a cryptocurrency that his friends have been telling him will make him a lot of easy money overnight. Rather than doubling as Archie expected, the cryptocurrency value does not change at all; Archie cashes out and takes the $ to Paddington's office the next day. Which of the following is the correct outcome of this case?
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Archie has no personal liability in this case because the rent money did not lose any value.
Paddington can discipline Archie, but he may not terminate the agency relationship.
Paddington can hold Archie personally liable for any losses associated with the delay in delivering the rent money.
Archie is not in breach of any agency duty because he did not harm Paddington.
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