Ask Basic Finance Expert

Lulu Lowlife hired Jeremy Jip, a licensed real estate agent, to sell her farm house for $31,500. Jeremy jumped right into the job and promptly proceeded to negotiate with a prospective purchaser, Mary Moron. While traveling to the Lowlife house for a tour, Mr. Jip jumped a curb and crashed into Ollie Onfoote, a pedestrian, who suffered a crushed cranium as a consequence. Ms. Moron, a passenger in Jip's jalopy, luckily lurched forward upon contact and only acquired abrasions on her abdomen. Despite this disruption of their drive, Mary and Jeremy at last arrived at their destination. Ms. Moron was immensely impressed by the rustic residence and orally offered $41,500 to Jeremy to buy it. Sensing the scent of a secret commission, Jip jovially got going on a contract for $31,500 and amiably agreed to accept an additional $5,000 as a "bonus" from Ms. Moron. Lulu later learned about this benevolent bonus, but consciously completed the conveyance contract in consideration of the fact that the funds from her former farmhouse were sadly to be set-aside to satisfy her unpaid debt owing to her deadly drug dealer, Carrie Crack. When Jeremy Jip, an otherwise moral man, discovered the drug dealer's despicable demands, he deliberately drove to a drug den and killed Crack with same Parker Pen that Lulu used to execute the conveyance contract.

1. Was Jeremy Jip Lulu's employee? Why or why not? What facts support your conclusion?

2. Is Lulu liable to Mary or Ollie for their injuries? Why or why not? What facts support your conclusion?

3. What fiduciary duties were breached by Jip? Provide specific facts to support your conclusions.

4. Was the conveyance contract for $31,500 enforceable? Why or why not?

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M9999291

Have any Question?


Related Questions in Basic Finance

Question utilizing the concepts learned throughout the

Question: Utilizing the concepts learned throughout the course, write a Final Paper on one of the following scenarios: • Option One: You are a consultant with 10 years experience in the health care insurance industry. A ...

Discussion your initial discussion thread is due on day 3

Discussion: Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your r ...

Question financial ratios analysis and comparison

Question: Financial Ratios Analysis and Comparison Paper Prior to completing this assignment, review Chapter 10 and 12 in your course text. You are a mid-level manager in a health care organization and you have been aske ...

Grant technologies needs 300000 to pay its supplier grants

Grant Technologies needs $300,000 to pay its supplier. Grant's bank is offering a 210-day simple interest loan with a quoted interest rate of 11 percent and a 20 percent compensating balance requirement. Assuming there a ...

Franks is looking at a new sausage system with an installed

Franks is looking at a new sausage system with an installed cost of $375,000. This cost will be depreciated straight-line to zero over the project's five-year life, at the end of which the sausage system can be scrapped ...

Market-value ratios garret industries has a priceearnings

(?Market-value ratios?) Garret Industries has a? price/earnings ratio of 19.46X a. If? Garret's earnings per share is ?$1.65?, what is the price per share of? Garret's stock? b. Using the price per share you found in par ...

You are planning to make annual deposits of 4440 into a

You are planning to make annual deposits of $4,440 into a retirement account that pays 9 percent interest compounded monthly. How large will your account balance be in 32 years?  (Do not round intermediate calculations a ...

One year ago you bought a put option on 125000 euros with

One year ago, you bought a put option on 125,000 euros with an expiration date of one year. You paid a premium on the put option of $.05 per unit. The exercise price was $1.36. Assume that one year ago, the spot rate of ...

Common stock versus warrant investment tom baldwin can

Common stock versus warrant investment Tom Baldwin can invest $6,300 in the common stock or the warrants of Lexington Life Insurance. The common stock is currently selling for $30 per share. Its warrants, which provide f ...

Call optionnbspcarol krebs is considering buying 100 shares

Call option  Carol Krebs is considering buying 100 shares of Sooner Products, Inc., at $62 per share. Because she has read that the firm will probably soon receive certain large orders from abroad, she expects the price ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As