You sell your used car to a stranger. He gives you a cheque he knows is bad. By the time you find that out, he has sold the car to a third party. The third party paid a fair price and did not know that the vendor was a fraudsman
What is the situation now as between you and the third party?
A) You can get the car returned. The fraudsman could not give good title, because he didn't have it.
B) You are out of luck. Title has passed to the innocent third party.
C) You can get the car returned. You and the third party are both innocent victims, so title reverts to the last party to have good title, which is you.
D) The third party may keep the car, but will have to pay you damages.
E) You can get the car returned, but you will have to pay the third party damages.
B
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How did the appeals court rule in Steven A. B. Hannington v Trustees of the University of Pennsylvania and Dr. Mark Bernstein, the case in the textbook where the plaintiff, a student suing for alleged wrongful expulsion, attempted to avoid a settlement agreement entered into by an attorney acting on his behalf?
A) The settlement agreement would be set aside because the attorney had exceeded his authority. B) The settlement agreement would be set aside both because the attorney had exceeded his authority and because the doctrine of apparent authority was inapplicable. C) The settlement agreement would be enforced based on the doctrine of apparent authority, but only in part because the college was comparatively at fault in placing unjustified reliance on the attorney's authority. D) The settlement agreement would be enforced based on the doctrine of apparent authority, regardless of whether the attorney exceeded the scope of his actual authority. E) A jury should determine the enforceability of the settlement agreement based upon its reasonableness.
Malloy Company, a manufacturer of small appliances, had the following activities, allocated costs, and allocation bases
Activities Allocated Costs Allocation Base Account inquiry (hours) $77,000 2,800 hours Account billing (lines) $31,000 15,000 lines Account verification (accounts) $14,000 29,000 accounts Correspondence (letters) $14,000 1,000 letters The above activities are carried out at two of its regional offices. Activities Northeast Office Midwest Office Account inquiry (hours) 100 hours 300 hours Account billing (lines) 16,000 lines 8,000 lines Account verification (accounts) 1,800 accounts 600 accounts Correspondence (letters) 50 letters 110 letters How much of the account inquiry cost will be assigned to the Midwest Office? (Round any intermediate calculations to two decimal places and your final answer to the nearest dollar.) A) $16,500 B) $77,000 C) $27,500 D) $8,250