Case s ummary : Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions. To find : The principal and the agent in the given scenario.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 19, Problem 1RE

Summary Introduction

Case s ummary :Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions.

To find :The principal and the agent in the given scenario.

Expert Solution

Explanation of Solution

An agent can be an independent contractor or an employee of a company. The court considers the status of a worker on the basis of the degree of control exercised by the principal over him. Less control indicates that an agent is an independent contractor while more control indicates that the agent is an employee. In the given case, B hired S for assisting him in selling insurance for his company. Therefore, B is the principal and S is the agent in the given case.

Summary Introduction

Case summary: Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions.

To find: The method by which the agency relationship was formed.

Expert Solution

Explanation of Solution

An agency can be formed by voluntary consent or by agreement between the parties. In this case, the agency relationship was formed by an agreement between B and S, where B was hired to assist S in selling the life insurance for MLC.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

FILL ALL CELLS. NOTICE THE DROPDOWN OPTIONS

ABF's metal spare parts manufacturing company uses the customised production method by attributing the GST to the products it produces with the help of predetermined attribution coefficients. The processing of metal parts is carried out in two production departments: the Cutting and Drilling department, and the Assembly department. The GIS attribution coefficients for the two departments are based on the operating hours of machines and the cost of direct work respectively. At the beginning of the year, the following budgets were implemented: Cutting and Drilling Department Assembly Department Direct Labor Costs (in euros) 1.320.000 2.000.000 G.B.E. (in euros) 4.800.000 2.400.000 Machinery Operating Hours 80.000 5.000 Direct Work Hours 27.000 12.000 Requested: To calculate the coefficient of attribution of the General Secretariat that will be used in each department. (4 units) To determine the production cost per unit for order 158 which…

A trip goa ques

Answer 2

Question

Chapter 19, Problem 1RE

Summary Introduction

Case s ummary :Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions.

To find :The principal and the agent in the given scenario.

Expert Solution

Explanation of Solution

An agent can be an independent contractor or an employee of a company. The court considers the status of a worker on the basis of the degree of control exercised by the principal over him. Less control indicates that an agent is an independent contractor while more control indicates that the agent is an employee. In the given case, B hired S for assisting him in selling insurance for his company. Therefore, B is the principal and S is the agent in the given case.

Summary Introduction

Case summary: Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions.

To find: The method by which the agency relationship was formed.

Expert Solution

Explanation of Solution

An agency can be formed by voluntary consent or by agreement between the parties. In this case, the agency relationship was formed by an agreement between B and S, where B was hired to assist S in selling the life insurance for MLC.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 19, Problem 1RE

Summary Introduction

Case s ummary :Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions.

To find :The principal and the agent in the given scenario.

Expert Solution

Explanation of Solution

An agent can be an independent contractor or an employee of a company. The court considers the status of a worker on the basis of the degree of control exercised by the principal over him. Less control indicates that an agent is an independent contractor while more control indicates that the agent is an employee. In the given case, B hired S for assisting him in selling insurance for his company. Therefore, B is the principal and S is the agent in the given case.

Summary Introduction

Case summary: Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions.

To find: The method by which the agency relationship was formed.

Expert Solution

Explanation of Solution

An agency can be formed by voluntary consent or by agreement between the parties. In this case, the agency relationship was formed by an agreement between B and S, where B was hired to assist S in selling the life insurance for MLC.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 19, Problem 1RE

Summary Introduction

Case s ummary :Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions.

To find :The principal and the agent in the given scenario.

Expert Solution

Explanation of Solution

An agent can be an independent contractor or an employee of a company. The court considers the status of a worker on the basis of the degree of control exercised by the principal over him. Less control indicates that an agent is an independent contractor while more control indicates that the agent is an employee. In the given case, B hired S for assisting him in selling insurance for his company. Therefore, B is the principal and S is the agent in the given case.

Summary Introduction

Case summary: Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions.

To find: The method by which the agency relationship was formed.

Expert Solution

Explanation of Solution

An agency can be formed by voluntary consent or by agreement between the parties. In this case, the agency relationship was formed by an agreement between B and S, where B was hired to assist S in selling the life insurance for MLC.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 19, Problem 1RE

Summary Introduction

Case s ummary :Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions.

To find :The principal and the agent in the given scenario.

Expert Solution

Explanation of Solution

An agent can be an independent contractor or an employee of a company. The court considers the status of a worker on the basis of the degree of control exercised by the principal over him. Less control indicates that an agent is an independent contractor while more control indicates that the agent is an employee. In the given case, B hired S for assisting him in selling insurance for his company. Therefore, B is the principal and S is the agent in the given case.

Summary Introduction

Case summary: Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions.

To find: The method by which the agency relationship was formed.

Expert Solution

Explanation of Solution

An agency can be formed by voluntary consent or by agreement between the parties. In this case, the agency relationship was formed by an agreement between B and S, where B was hired to assist S in selling the life insurance for MLC.

Answer 6

Chapter 19, Problem 1RE

Summary Introduction

Case s ummary :Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions.

To find :The principal and the agent in the given scenario.

Expert Solution

Explanation of Solution

An agent can be an independent contractor or an employee of a company. The court considers the status of a worker on the basis of the degree of control exercised by the principal over him. Less control indicates that an agent is an independent contractor while more control indicates that the agent is an employee. In the given case, B hired S for assisting him in selling insurance for his company. Therefore, B is the principal and S is the agent in the given case.

Answer 7

Chapter 19, Problem 1RE

Summary Introduction

Case s ummary :Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions.

To find :The principal and the agent in the given scenario.

Answer 8

Expert Solution

Explanation of Solution

An agent can be an independent contractor or an employee of a company. The court considers the status of a worker on the basis of the degree of control exercised by the principal over him. Less control indicates that an agent is an independent contractor while more control indicates that the agent is an employee. In the given case, B hired S for assisting him in selling insurance for his company. Therefore, B is the principal and S is the agent in the given case.

Answer 9

Expert Solution

Answer 10

Expert Solution

Answer 11

Expert Solution

Answer 12

Summary Introduction

Case summary: Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions.

To find: The method by which the agency relationship was formed.

Expert Solution

Explanation of Solution

An agency can be formed by voluntary consent or by agreement between the parties. In this case, the agency relationship was formed by an agreement between B and S, where B was hired to assist S in selling the life insurance for MLC.

Answer 13

Summary Introduction

Case summary: Person B hired person S to assist him in selling insurance for his company MLC. B found that S was simultaneously selling the insurance of another company PLC. B withheld the client’s contact information from S and terminated the contract. S brought a suit against B for loss in sale and commissions.

To find: The method by which the agency relationship was formed.

Answer 14

Expert Solution

Explanation of Solution

An agency can be formed by voluntary consent or by agreement between the parties. In this case, the agency relationship was formed by an agreement between B and S, where B was hired to assist S in selling the life insurance for MLC.