Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The strategic management team for the Wizzo Corporation (Wazo) has decided to build A new store in Dover, Delaware. Wizzo stores are enormous department stores

image text in transcribed
The strategic management team for the Wizzo Corporation (Wazo) has decided to build A new store in Dover, Delaware. Wizzo stores are enormous department stores that often cause competition to close because Wizzo can buy in bulk and can selll at very reduced prices. Since Wizzo often faces opposition when purchasing land, they have hired Mel to negotiate the land purchase deal. Mel signs a written contract and is told to buy between 50 and 60 acres of land that must be flat, potable and on a highway. He is told to spend up to $50.00 per acre. When not buying this land, Mel is a department manager for a local real estate company. He must report in twice a day with his progress. He is further told not to tel anyone that he represents Wizzo and he is not to disclose that he is not the actual buyer of the land. 1. IF Mel committed nepligence that harmed a third party while driving home at the end of the workday, who would be lable? no one b. Me .Wizzo d. both Mel and Wizzo If Mel hires an engineering company to do the potability test: 2. Mel may do so based on implied authority b. Mel may do so based on ratification C. Mel may do so based on apparent authority Mel may do so based on express authority d. 3. Mer's authority to buy the land is best described as: apparent authority implied authority authority through ratification express authority a. 4. From the point of view of the seller of the property, the seller deals with Mel based on: apparent authority implied authority express authority authority has nothing to do with this situation b. d. 5. Mel owes Wizzo the duty of: notification accountability loyalty all of the above none of the above b. d. Wizzo owes Mel the duty of: notification 6. a. b. accountability loyalty d. all of the above none of the above

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

Public Sector Accounting And Finance

Authors: Prof Stephen Sunday Sharang Ph.D.

1st Edition

979-8639273353

More Books

Students also viewed these Accounting questions

Question

Select a topic appropriate for you and your audience.

Answered: 1 week ago