Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Sam hires Bob as his agent to sell his antique car. He tells Bob he wants $100,000 for it. Bob sells the car to Chuck
Sam hires Bob as his agent to sell his antique car. He tells Bob he wants $100,000 for it. Bob sells the car to Chuck for $110,000. Which of the following is true?
Group of answer choices
Bob can keep the $10,000 as his agreement with Sam was to sell it for $100,000.
The sale is void as Bob had no authority to sell it for $100,000
Bob holds the xtra $10,000 in constructive trust for Sam
Chuck can sue Bob and get the extra $10,000 back
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started