HERE IS THE PREVIOUS QUESTION FOR BACKGROUND INFORMATION. I NEED YOU TO ANSWER #95 :

94.) Paul owns a Bar and Grill on a heavily trafficked downtown street. Paul wants to expand his restaurant to include a room for pool tables and dart boards. The adjacent property, owned by Quinn, is about to come up for sale. Paul wants to purchase Quinns property. However, Paul and Quinn do not get along and Quinn would NEVER sell to Paul. Paul decides to enlist the help of Adam to purchase Quinns property. Paul gives Adam express instructions not to tell Quinn he is purchasing the property for Paul. Identify the parties to the agency agreement and what role each serves in said arrangement.

Answer:

there are three parties in agency agreement-

Paul who plays the role of principal

Quinn who plays the role of seller

and last Adam who plays the role of agent of Paul and buyer of Quinn.

95. Same facts as Question # 94. Adam is unable to close the deal with Quinn and purchase her property. However, Adam learns the property on the other side of Pauls Bar and Grill, which is owned by Rob, is about to hit the market. Adam, having to act quickly, is able to arrange a purchase price of Robs property which is below fair market value. Adam enters into a purchase contract with Rob for the purchase of the property. Explain how each party would be liable to the other parties in the transaction given the information in each of the following situations.

A. Paul is thrilled with Adams actions and wants to follow through with the purchase of Robs property as contracted.

B. Pauls plans for expansion will not work with Robs property for reasons which Adam was not aware and Paul does not want to go through with the purchase of Robs property.

C. Before Adam can tell Paul he has contracted to buy Robs property, Rob tells Adam he has received a better offer on the property and is going to cancel the sell to Adam.