Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the legal principles relating to Agency to answer the following question Mrs Charles, a businesswoman was migrating and was not sure who she would

  1. Use the legal principles relating to Agency to answer the following question

Mrs Charles, a businesswoman was migrating and was not sure who she would ask to take care of her various business ventures. She decided that she would let her son, Mark who is 30 years old collect the rent for her three houses from the tenants, deposit the funds into her account, make her monthly mortgage payments and eventually when she wants to sell the premises, he would be able to take the tenants to Court so that they can vacate the premises. She has also given him permission to sell her Toyota Corolla 2020 motor vehicle and to open a fixed deposit account to place the net proceeds of sale of the properties and the car in it. Mrs Charles also told him to put all her furniture in storage and keep her paintings at his home and not to sell same. All of this was placed in a Power of Attorney Instrument.

Mark requested his friend Carey to sell the 2020 Toyota Corolla motor vehicle as he has a car mart. Carey sold the car for $3.5M which money he gave to Mark who only placed $2M in his mother's account and told her that was what he got the car sold for.

Mark advertised one of the houses for sale along with the furniture in there. He also needed some money so he took one of his mother's prized paintings that he was keeping at his home and sold it for $2M. He told Charley, the buyer that it was a Barrington Watson painting that Mr Watson did for his mother in 1965 however it was a Barrington Walter painting.

Six months later Mrs Charles returned to Jamaica and found out all that was done by Mark.Charley also called her informing her that he is going to report her to the police for fraud as she claimed her painting was an original Barrington Watson when it was not.

Advise Mrs Charles on the issues arising using the legal principles of agency with the use ofrelevant

cases

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_2

Step: 3

blur-text-image_3

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

Company Law

Authors: Brenda Hannigan

6th Edition

0198848498, 978-0198848493

More Books

Students also viewed these Law questions

Question

Fore (N) 1_13 0.36 1.22 N

Answered: 1 week ago

Question

Behaviour: What am I doing?

Answered: 1 week ago