Examlex

Solved

Reference - Lakeside Property

question 97

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 Sue sues Ronnie for purchasing the property from Bruce?


Definitions:

Looking for Work

The activity of actively seeking employment by individuals who are unemployed or seeking better employment.

Employment Rate

The percentage of the labor force that is employed, often used as a measure of economic health and labor market strength.

Government Officials

Individuals who hold positions of authority in governmental organizations and are responsible for making and implementing policy decisions.

Labor Force

The total number of people, including both the employed and unemployed, who are actively engaged in or seeking work within an economy.

Related Questions