The owner of Shakespeare, Inc,  Billy  Shakespeare, has used Oliver Othello as his agent to purchase real estate in Wilkes-Barre, Pennsylvania on 3 occasions under  signed agency agreement for each transaction. In each case, the agent has worked with the same bank and real estate broker in Wilkes-Barre.  The real estate broker contacts Oliver with a "great deal" on a building in downtown Wilkes-Barre.  Oliver recognizes that Billy would indeed want the building but does not have time to contact him to approve the purchase.  Oliver decides to act on Billy's behalf and purchase the building.  Is Billy responsible for this purchase? Explain

Answer rating: 100% (QA)

In this scenario the legal concept of agency and the authority granted to the agent Oliver Othello play a crucial role in determining the responsibili... View the full answer