Examlex
Barnes agrees with Morgan to enter into the management of a new subdivision of residential housing. Morgan appoints Barnes as his manager for the duration of the development program. During the course of the construction, Barnes decides to use funds specified for the subdivision for an office space project that Barnes alone has been interested in completing. Morgan is very angry on learning of Barnes' actions and terminates the agency. Barnes insists that the agency cannot be terminated in this manner. Is Barnes correct?
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The status of being legally obligated to fulfill the terms agreed upon in a contract.
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An estimate provided to a potential buyer that outlines the sale price and other terms of sale for goods or services.
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