LAW 122 Midterm: Practice Questions for test #1.docx

• School: Ryerson University
• Department: Law and Business
• Course: LAW 122
• Professor: Theresa Miedema

Document Summary

1) he is liable for breach of contract as the purchaser. Not liable for is obligation as an agent because he did not break the fiduciary duty. Just the sales contract: corporate leasing never gave apparent authority for reston. Reston never acted as an agent, and she ratified the contract and asked afterwards. Rule says that contracts are not binding when the company is bankrupt: jennifer would be liable. The contract is between dt and mt because there was nothing in here to suggest koh wasn"t to be liable. And always said he was not the principle: yes, because he is breaking his fiduciary duty. He cannot personally profit from unauthorized use of information. And must disclose to the principal any information that may be relevant to the principal"s interests: breach of warranty of authority. She"s claiming to have authority that isn"t there.