A corporation hired a bidding agent to represent the corporation at an auction of land. The written
Fantastic news! We've Found the answer you've been seeking!
Question:
A corporation hired a bidding agent to represent the corporation at an auction of land. The written agreement authorized the agent to bid on a property of interest for up to $250,000. At the auction, the land in which the corporation was interested was subject to fiercely competitive bidding. The agent won the auction at $500,000, instead of $250,000. The corporation refused to pay more than $250,000.
Against whom does the auctioning party have a cause of action?
Both the corporation and the bidding agent.
Only the corporation.
Only the bidding agent.
Neither the corporation nor the bidding agent.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date: