Answered step by step
Verified Expert Solution
Link Copied!

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

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

Intellectual Property Law

Authors: Tina Hart, Simon Clark, Linda Fazzani

6th Edition

0230366538, 978-0230366534

More Books

Students also viewed these Law questions