Identify Which Duty of Agent to Principal,if Any,is Being Breached

question 16

Essay

Identify which duty of agent to principal,if any,is being breached in the situations below.
a.X,a valued client of the agent,requests the agent to attend a land auction and to bid on a specific piece of land if it is free and clear of encumbrances and restrictions.The agent,although not knowledgeable about auctions or real estate,attends and successfully bids on the property.However,the agent did not understand the legalese contained in a brochure given each of the bidders,which stated that the property the agent obtained would be subject to a restrictive covenant restricting the development and use of the property.
b.The agent is instructed to attempt to purchase a specific piece of land and is authorized to offer up to $100 000 for same.The agent purchases the property for $85 000 and collects $95 000 from his principal,and in so doing advises the principal that the acquisition cost was $95 000.
c.The principal retains agent X due to the agent's public reputation as an outstanding tax expert and requests that the agent attend a tax inquiry to represent him.X agrees to do this but instead delegates it to a sub-agent,who unsatisfactorily represents the principal.
d.The principal instructs the agent not to pay more than $50 000 for a lot.The agent commits its principal to pay $60 000 for the lot.

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Definitions:

Disc Brakes

Vehicle brake system in which squeeze pressure is applied to a rotor by a caliper. Both pneumatic and hydraulic disc brakes are used on trucks.

Wedge Brakes

A type of brake mechanism where a wedge is used to press brake linings against a drum or rotor to slow or stop motion, often found in heavy vehicles.

Primary Circuit

The main electrical circuit in a system, responsible for providing power to the essential components or functions.

Tandem Drive Axle

One of a pair of drive axles used in tandem drive highway trucks.