Person TH, along with his wife, entered into a contract with T, the representative of firm H for the renovation of their house. When a contractual dispute arose, firm H’s name came out to be imaginary. Person TH sued person T for non-disclosure of full information and a breach of contract. To find: The personal liability of T.

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Please explain how to solve this financial accounting question with valid financial principles.

Answer 1

Question

Chapter 19, Problem 3BCP

Summary Introduction

Case summary: Person TH, along with his wife, entered into a contract with T, the representative of firm H for the renovation of their house. When a contractual dispute arose, firm H’s name came out to be imaginary. Person TH sued person T for non-disclosure of full information and a breach of contract.

To find: The personal liability of T.

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Answer 2

Question

Chapter 19, Problem 3BCP

Summary Introduction

Case summary: Person TH, along with his wife, entered into a contract with T, the representative of firm H for the renovation of their house. When a contractual dispute arose, firm H’s name came out to be imaginary. Person TH sued person T for non-disclosure of full information and a breach of contract.

To find: The personal liability of T.

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Answer 3

Question

Chapter 19, Problem 3BCP

Summary Introduction

Case summary: Person TH, along with his wife, entered into a contract with T, the representative of firm H for the renovation of their house. When a contractual dispute arose, firm H’s name came out to be imaginary. Person TH sued person T for non-disclosure of full information and a breach of contract.

To find: The personal liability of T.

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Answer 4

Question

Chapter 19, Problem 3BCP

Summary Introduction

Case summary: Person TH, along with his wife, entered into a contract with T, the representative of firm H for the renovation of their house. When a contractual dispute arose, firm H’s name came out to be imaginary. Person TH sued person T for non-disclosure of full information and a breach of contract.

To find: The personal liability of T.

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Answer 5

Chapter 19, Problem 3BCP

Summary Introduction

Case summary: Person TH, along with his wife, entered into a contract with T, the representative of firm H for the renovation of their house. When a contractual dispute arose, firm H’s name came out to be imaginary. Person TH sued person T for non-disclosure of full information and a breach of contract.

To find: The personal liability of T.

Answer 6

Chapter 19, Problem 3BCP

Summary Introduction

Case summary: Person TH, along with his wife, entered into a contract with T, the representative of firm H for the renovation of their house. When a contractual dispute arose, firm H’s name came out to be imaginary. Person TH sued person T for non-disclosure of full information and a breach of contract.

To find: The personal liability of T.

Answer 7

Chapter 19, Problem 3BCP

Summary Introduction

Case summary: Person TH, along with his wife, entered into a contract with T, the representative of firm H for the renovation of their house. When a contractual dispute arose, firm H’s name came out to be imaginary. Person TH sued person T for non-disclosure of full information and a breach of contract.

To find: The personal liability of T.

Answer 8

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Answer 19

Ch. 19 - Prob. 1RE Ch. 19 - Prob. 2RE Ch. 19 - Prob. 3RE Ch. 19 - Prob. 4RE Ch. 19 - Prob. 1IS Ch. 19 - Prob. 2IS Ch. 19 - Prob. 1BS Ch. 19 - Prob. 2BS Ch. 19 - Prob. 3BCP Ch. 19 - Prob. 4BCP

Solution Summary: The author explains that if the principal is partially disclosed to the third party, then the agent can be personally held liable for non-performance of the contract.

Chapter 19 Solutions