Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Vlad, as an agent, is paid $5,000 owed by a debtor of Lee, Vlad's principal. Instead of giving it immediately to Lee, Vlad invests it
Vlad, as an agent, is paid $5,000 owed by a debtor of Lee, Vlad's principal. Instead of giving it immediately to Lee, Vlad invests it in the stock market. Luckily, the market price of that particular stock rises to $10.000 before Lee learns of the wrongdoing. Under these circumstances,
A. Vlad cannot be sued as the money was put to good use
B. Lee is entitled only to $5,000
C. Lee is entitled to all of the stock
D. Vlad is not guilty of wrongdoing because he managed to make a profit
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