[Accidental Sale] Julio Entrusted His Automobile to Slick Sid's for Repair

question 31

Multiple Choice

[Accidental Sale] Julio entrusted his automobile to Slick Sid's for repair. The manager of Slick Sid's, who did a very poor job with inventory, accidentally sold the car to Ramona. Ramona, who paid cash for the car, had no idea that the car did not belong to Slick Sid's and paid fair market value for it. When Julio went to pick up the car, he was very upset that it was gone. The manager of Slick Sid's told him that he was very sorry, but that his only recourse would be against Ramona.
-Is the manager correct in saying that Julio's only recourse is against Ramona?

• A) The manager is correct.
• B) The manager is incorrect only if Julio has a writing signed by a representative of the repair shop guaranteeing the safety of the car.
• C) The manager is correct only if Ramona can be found.
• D) The manager is correct only if Ramona's deal was for less than 10% of the fair market value of the car.
• E) The manager is incorrect, and Julio can sue Slick Sid's.

Understand the role of independent contractors in business.

Grasp the concept of startup costs and financial planning for new businesses.

Understand the process of turning hobbies into viable businesses.

Appreciate the importance of research and intuition in identifying business opportunities.

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