Asked by Taylor Giardinelli on Jul 11, 2024
Verified
Meryl is an avid doll collector and has been searching for the Beach Doll to complete her 200-piece collection. There were only 5 Beach Dolls created in the world. Meryl is envious of her neighbor Nancy, who has the first Beach Doll ever created. Nancy refuses to sell the doll because she thinks it will be worth a million dollars someday. While Nancy is on vacation, Meryl hires Alex to steal the doll from Nancy's home. Has an agency relationship been formed?
A) No, because the agreement must be in writing.
B) No, because the agreement has an illegal purpose.
C) No, because the amount or form of compensation was not contemplated.
D) Yes, because the agreement may be oral or in writing.
E) Yes, because Alex's objective was unambiguous.
Illegal Purpose
Refers to the intention of engaging in activities that violate laws or regulations.
Agency Relationship
A legal arrangement in which one party, the agent, is authorized to act on behalf of another, the principal, in conducting business transactions.
Oral Agreement
A verbal contract between parties that is legally binding in certain contexts, though more difficult to prove than written ones.
- Familiarize oneself with the legal ramifications and implications of conduct in an agency relationship.
Verified Answer
KW
kiara waldenJul 18, 2024
Final Answer :
B
Explanation :
An agency relationship cannot be legally formed for the purpose of committing an illegal act, such as theft.
Learning Objectives
- Familiarize oneself with the legal ramifications and implications of conduct in an agency relationship.