Author Question: Agent's Duties. Howard and Virginia Bankerd were having marital difficulties. In 1968 Howard decided ... (Read 55 times)

jjjetplane · **on:** Jun 24, 2018

Agent's Duties. Howard and Virginia Bankerd were having marital difficulties. In 1968 Howard decided to leave for the west, but before he did so, he executed a power of attorney to his lawyer, Arthur King. Virginia continued to reside in their home in Maryland and assumed all expenses for the home. In 1975 Howard gave King an updated power of attorney and asked King to sell the property on such terms as to him

Question 2

When an agent pays for the right to exercise authority for a business, there is an agency coupled with an interest.
a. True
b. False
Indicate whether the statement is true or false

Zebsrer · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

Agent's duties
The court held that Howard's instruction did not give Arthur the right to give the property away. As Howard's agent, Arthur was expected to act in the best interests of his principal. Because he disregarded these interests, Arthur breached the duty of loyalty and trust.

Answer to Question 2

TRUE