Question: Brett is an agent for Elite Real Estate Developments (Elite). He is currently negotiating a multi-million dollar deal for the construction of three separate retail
Brett is an agent for Elite Real Estate Developments (Elite). He is currently negotiating a multi-million dollar deal for the construction of three separate retail and residential high-rise apartment towers in the CBD, to be called The Ritz. Interest in the exclusive development is very high and most of The Ritzs boutique apartments and retail shops have already been sold off the plan. Two construction businesses are in competition to win the contract for the construction of The Ritz. One of the businesses, Crafty Constructions (Crafty), offers Brett an all expenses six week European holiday along with $20,000 spending money, if they are awarded the contract. Brett, who is overworked and ready for to take a break, is persuaded by Crafty's offer and decides to award them the contract Brett has time off work from Elite and takes his family on the European holiday with the S20,000 spending money. Has Brett breached any fiduciary duties owed to Elite
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
