Assume that Susan, the seller, is approached directly by Colin. She asks Colin to speak to...
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Assume that Susan, the seller, is approached directly by Colin. She asks Colin to speak to Abraham her agent to finalise the sale of the house and agree on a purchase price. However, in the interim, Susan receives a higher offer and agrees to sell the house to another third party, Hayley Bekker, for the higher price of R1.3 million. Abraham and Colin are both unaware of Susan's actions. When Colin becomes aware of this, he confronts Susan and she denies that Abraham ever had authority to act on her behalf. She tells him "He was never my agent!". Can Colin rely on the remedy of estoppel to secure the purchase of the house and prevent Susan from denying that she did not accept the offer of R1.2 million? Support your answer. Make reference to the case study above. Assume that Susan, the seller, is approached directly by Colin. She asks Colin to speak to Abraham her agent to finalise the sale of the house and agree on a purchase price. However, in the interim, Susan receives a higher offer and agrees to sell the house to another third party, Hayley Bekker, for the higher price of R1.3 million. Abraham and Colin are both unaware of Susan's actions. When Colin becomes aware of this, he confronts Susan and she denies that Abraham ever had authority to act on her behalf. She tells him "He was never my agent!". Can Colin rely on the remedy of estoppel to secure the purchase of the house and prevent Susan from denying that she did not accept the offer of R1.2 million? Support your answer. Make reference to the case study above.
Expert Answer:
Answer rating: 100% (QA)
Yes Colin can rely on the remedy of estoppel in this situation The key elements of estoppel are 1 A ... View the full answer
Related Book For
Managerial accounting
ISBN: 978-0471467854
1st edition
Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin
Posted Date:
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