Reference - Lakeside Property

question 88

Multiple Choice

Reference - Lakeside Property. Ronnie agreed to act as the agent of Sue in finding a piece of lakeside property for her at a good price and also in obtaining a loan for her with which to purchase the property. She agreed to pay him $500 for doing so. To assist Ronnie in his duties, Sue disclosed to Ronnie confidential information about her finances and debts. Ronnie decided that he needed help and paid Rick $300 to look for property for Sue. Bruce told Ronnie about a great deal on a piece of lakeside property that Bruce had for sale. In fact, the deal was so good that Ronnie purchased the property for himself. When Sue found out about the property Ronnie bought for himself, she complained to Ronnie. He defended himself on the basis that he was not actually working for Sue when he found out about the deal. At the time, he was playing golf with Bruce. He also told Sue that he had hired Rick for $300 to assist him and that he could not be held liable because he had turned the job over to Rick. He asked Sue for reimbursement of that amount. Sue fired Ronnie threatening to sue him. Ronnie told Sue that he would counterclaim for the $300 owed to Rick. Only after he was fired, Ronnie disclosed to a number of parties information regarding Sue's spending habits which he thought were excessive. Which of the following is the most likely result if Ronnie sues Sue for the $300 paid to Rick?

• A) Ronnie will lose.
• B) Ronnie will win only if he can establish that he had express permission from Sue to assign the duties.
• C) Ronnie will win only if he can establish that he had either express or implied permission from Sue to assign the duties.
• D) Ronnie will win only if he can establish that he had either express, implied, or assumed permission from Sue to assign the duties.
• E) Ronnie will lose only if Sue can establish that Rick is incompetent to deal in real estate.

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Definitions:

Swell

A term often used to describe a long wave on the water's surface that has traveled a great distance.

Perceived Threat

The subjective interpretation of a potential harm or danger, influencing an individual's response and behavior towards it.

Personality Type

A classification of individuals based on shared psychological traits, often used in personality assessments to understand behavioral tendencies.

Type T

A personality type theory suggesting that individuals with a high tolerance for risk, and seeking novelty and excitement, tend to be thrill-seekers.