X Co. owns land all over downtown Toronto. From time to time, X Co. has used John
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X Co. owns land all over downtown Toronto. From time to time, X Co. has used John Jones as its agent to sell land that it owns. X Co. hires John and tells him it wants to sell a downtown property located on Front Street. It instructs John to list the property for $1 million, but that it will take $900 000.00. John has a friend, Mary, who is interested in buying the Front Street property, but rather than listing it at $1 million, he simply tells Mary "For $900 000.00 it's yours," and she agrees. John, having effected the sale, now wants to be paid his commission by X Co.
Applying the principles of agency law, discuss the legal issues raised in the above situation.
Related Book For
Canadian Income Taxation 2018-2019
ISBN: 9781259464294
21st Edition
Authors: William Buckwold, Joan Kitunen
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