Which if the following real estate transactions what a principal not be vicariously liable for the actions of her agent?
a. a principal instructed an ancient not to mention a latent defect
b. a principal learned that an agent had not revealed a latent defect and approve the agents actions after the fact
c. an agent arranged the sale of a property without revealing latent defects from which the seller profited the agent then died
d. an agent did not reveal a latent defect but the principal had no knowledge of the agents actions until a lawsuit was filed
Answer: d. an agent did not reveal a latent defect but the principal had no knowledge of the agents actions until a lawsuit was filed
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Lonely Guy Repair Service recently performed repair services for a customer that totaled $400. Somehow the bill was lost and the company accountant was trying to recreate the bill from memory. This is what was remembered:
Total bill $600 Labor profit margin $10 Materials profit margin 20% Total labor charges $390 Cost of materials used $120 Total hourly cost $22.50 How many hours were billed on the job? a) 12.0 b) 18.5 c) 17.3 d) 19.5
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Beth Del Jim Sal