Barnett Was Orally Hired by Paula to Locate Desirable Real

question 16

Essay

Barnett was orally hired by Paula to locate desirable real estate that she could use for rental property.She stated she wanted to find a four-plex that could be purchased for under $200,000 that could be rented for at least $1,000 per month per unit (which equates to $4,000 rental per month for the property).Barnett located a four-plex that could be purchased for $160,000 and was renting for $1,200 per unit.It was such a good deal that he purchased it for himself.About two months later he found a second property that was listed for $199,000 and rented for $1,000 per unit.Paula purchased the property.Afterwards,she learned that Barnett had bought the $160,000 four-plex for himself without telling her about it.Paula believes that Barnett has acted improperly.Barnett claims that he did what she asked -- he found a property for under $200,000 that rented for $1,000 per unit.He also claims that since their agreement was oral,he has a legal defense if she pursues the matter in court.Does Paula have any legal recourse against Barnett? Explain.

Identify different forms of business organizations and their characteristics.

Grasp the concept of international trade and the reasons behind it.

Understand the consequences of trade restrictions on economies.

Recognize the importance of the balance of payments and foreign exchange markets in international economics.

---

Definitions:

Globalized Market

A large market created by combining separate national markets.

European Union

A political and economic union of 27 European countries that are located primarily in Europe, aiming to ensure free movement of people, goods, services, and capital.

Additional Taxes

Taxes levied in addition to the basic tax rate on income, property, or goods.

Globalization Of Production

The process of firms expanding their operations by developing the international organization of their product supply chains.