Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Super Good, is an engineer and architectural design firm made up of some very young engineers. In order to be hired to design a new

image text in transcribed
Super Good, is an engineer and architectural design firm made up of some very young engineers. In order to be hired to design a new fifty-story building that will serve as Exxon's headquarters, Super Good decides to submit a bid. However, fearful that their lack of reputation will harm their chances of being employed, they hire Phillip Johnson, a renowned designer-architect, to present the bid. Mr. Johnson is instructed not to reveal the new firm's identity. In other words, the bid is to be submitted in Phillip Johnson's name alone. if Exxon awarded the design job to Mr. Johnson. Will Exxon be bound by the contract to use Super Good? Yes, because the vast majority of contracts negotiated by agents for undisclosed principals and those types of contracts are always assignable. No, because of Exxon's belief that it was hiring the unique personal talents of Mr. Johnson. Yes, because Exxon awarded the bid to Super Good and it does not matter if Mr. Johnson gave the presentation and Exxon thought they were hiring him personally. No, because agents cannot sign contracts on behalf of undisclosed principals

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Financial Markets And Institutions

Authors: Jeff Madura

5th Edition

0324027443, 9780324027440

More Books

Students also viewed these Finance questions