Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rosie was recently hired as a Corporate Partner Account Manager for a local e-commerce startup, Shop Bonanza Pte Ltd (or SBPL). The founder and Chief

Rosie was recently hired as a Corporate Partner Account Manager for a local e-commerce startup, Shop Bonanza Pte Ltd (or "SBPL"). The founder and Chief Executive Officer (CEO) of the startup is Monisha. Monisha informed Rosie on her first day of work that Rosie would be expected to liaise with their corporate partners for potential collaborations. Monisha expressly stated that while Rosie would have the authority to negotiate the terms of any deal with their corporate partners, Rosie would need to obtain Monisha's express approval before signing any contract with their corporate partners. To enhance Rosie's status in the eyes of their corporate partners, SBPL issued Rosie with a name card that stated her job title as "Director of Corporate Partnerships".

One of SBPL's corporate partners was a toy manufacturer called "Toys For You" (or "TFY"). When Rosie presented her name card to the representatives from TFY, they were very impressed with her job title (as indicated on the name card), and they seemed more willing to discuss a potential deal with her.

Rosie was heavily involved in the negotiations with TFY which went on for some time. With much effort, she finally managed to agree with TFY on a set of terms which she felt was beneficial to SBPL. In order to "lock in" the deal with TFY, Rosie decided to sign (on behalf of SBPL) the contract with TFY immediately. She did not obtain Monisha's approval before doing so.

a)Describe and explain two (2) ways in which the agency relationship between Rosie and SBPL could have arisen in the above scenario. Support your answer with specific examples based on the above scenario.

b)Outline briefly one (1) duty that Rosie may have breached as an agent.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

1119563097, 9781119563099

Students also viewed these Law questions