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Author Question: A real estate agent, by virtue of his fiduciary duty to his principal, is not allowed to buy the ... (Read 53 times)

azncindy619

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on: Aug 7, 2021
A real estate agent, by virtue of his fiduciary duty to his principal, is not allowed to buy the property being sold by his principal without full disclosure to and consent from his principal. The real estate agent does not want to disclose that he is the buyer of the property, so he forms a corporation and takes an offer to his principal from the corporation. Based on these facts, which of the following is true if the principal finds out that the corporation/buyer is owned by the real estate agent and objects to the contract?
◦ The court would enforce the contract because this is not a direct breach of the agent's fiduciary duty.
◦ The court would enforce the contract because the corporation is a separate legal entity in the eyes of the law.
◦ The court would dissolve the corporation.
◦ The court would not enforce the contract and would "lift the corporate veil."
◦ The court would enforce the contract, but the principal would be able to claim any profits from the agent when he took them out of the corporation.
Legal Fundamentals for Canadian Business ¦ Yates ¦ 4th Edition
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Marked as best answer by azncindy619 on Aug 7, 2021

Ashley I

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Reply #1 on: Aug 7, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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azncindy619

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Reply 2 on: Aug 7, 2021
YES! Correct, THANKS for helping me on my review

bimper21

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Reply 3 on: Yesterday
Wow, this really help

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