[LAW 603] - Final Exam Guide - Ultimate 24 pages long Study Guide!

• School: Ryerson University
• Department: Law and Business
• Course: LAW 603
• Professor: Nick Iannazzo

Document Summary

Tatiana went to reston sales & leasing inc. looking for bmw to lease; met with joe reston (manager/sole owner) Reston arranged 2-year lease on car tatiana wanted from corporate leasing (cl: reston = agent, cl = principal, tatiana = 3rd party. Nothing in tatiana"s dealings with reston indicated that he was acting for cl. Regardless, tatiana agreed to contract with cl if terms were acceptable to her. Reston contacted cl, cl did credit check on tatiana, and faxed reston a lease agreement. Tatiana signed agreement that provided fixed term of 2 years with no right to cancel before end of term. After signing agreement; asked reston if she could have right to cancel agreement on written notice from her. Cl says cancellation not permitted under terms of lease. 6 months later, tatiana lost her job and requested cl to cancel lease. Page 2-3 (ratification & when a principal is bound by the acts of an agent)