Please answer this questions Overall and hope you reply as soon as possible! Pet
ID: 1163318 • Letter: P
Question
Please answer this questions Overall and hope you reply as soon as possible!Pete Gaffrey is a well known, wealthy financier. Alan Winter, Gaffrey's friend, tells l Borge that he (Winter) is Gaffrey's agent for the purchase of rare coins. Winter even shows Borge a local newspaper clipping mentioning Gaffrey's interest in coin collecting. Borge, knowing of Winter's friendship with Gaffrey, contracts with Winter to sell Gaffrey a rare coin valued at $25,000. Winter takes the coin from Borge and disappears with it. On the date that the contract payment was due, Borge seeks to collect from Gaffrey, claiming that Winter's agency made Gaffrey liable. Gaffrey does not deny that Winter was a friend, but claims that Winter never worked for him. A.According to Borge, who was the principal? B.According to Borge, who was the agent? C.Did an agency relationship actually exist? Answer yes or no, then explain why or why not. D.Can Gaffrey be held liable under the theory of agency by estoppel? Answer yes or no, then explain why why not. Please answer this questions Overall and hope you reply as soon as possible!
Pete Gaffrey is a well known, wealthy financier. Alan Winter, Gaffrey's friend, tells l Borge that he (Winter) is Gaffrey's agent for the purchase of rare coins. Winter even shows Borge a local newspaper clipping mentioning Gaffrey's interest in coin collecting. Borge, knowing of Winter's friendship with Gaffrey, contracts with Winter to sell Gaffrey a rare coin valued at $25,000. Winter takes the coin from Borge and disappears with it. On the date that the contract payment was due, Borge seeks to collect from Gaffrey, claiming that Winter's agency made Gaffrey liable. Gaffrey does not deny that Winter was a friend, but claims that Winter never worked for him. A.According to Borge, who was the principal? B.According to Borge, who was the agent? C.Did an agency relationship actually exist? Answer yes or no, then explain why or why not. D.Can Gaffrey be held liable under the theory of agency by estoppel? Answer yes or no, then explain why why not. Please answer this questions Overall and hope you reply as soon as possible!
A.According to Borge, who was the principal? B.According to Borge, who was the agent? C.Did an agency relationship actually exist? Answer yes or no, then explain why or why not. D.Can Gaffrey be held liable under the theory of agency by estoppel? Answer yes or no, then explain why why not.
Explanation / Answer
Ans
A Pete Gafferey because agents took decisions rigarding him
B Alan winter who he thought acted on behalf of Pete Gafferey
C NO it did not exist since in reality winter was not appointed by Gafferey to conduct trade in coins on his behalf
D No because Borge did not bother to verify facts