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Simon was a top real estate agent at XYZ Realty. Biana engaged XYZ Realty to purchase a commercial building for her. Simon found an amazing
Simon was a top real estate agent at XYZ Realty. Biana engaged XYZ Realty to purchase a commercial building for her. Simon found an amazing property that met all of Biana's requirements. The property was listed by Igor for $1.5 million dollars. Biana could not afford the asking price. Simon agreed to purchase the building personally and to sell it to Biana once she had finally raised the necessary $1.5 million. Unbeknownst to Biana, Simon bought the building from Igor for $1 million and then resold it to her for the full $1.5 million six months later. Biana found out about the difference in an accidental meeting with Igor at a social event. She is furious. What legal advice can you give her? Question 40 options: Biana can only sue XYZ Realty. XYZ Realty is solely responsible for the loss. She would sue for damages that include the $500,000 secret profit, a refund of commission paid, and any punitive damages. Simon is in breach of his fiduciary obligation as principal. Biana can sue both Simon and XYZ Realty, after all, XYZ Realty is vicariously liable for the tort of its employee. She would sue for damages that include the $500,000
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