Case summary: Person S became a legal caretaker of person R. R created a power of attorney in the favor of S. S opened a Joint bank account with R and deposited $9,643.62 in bank A. However, person S withdrew some money to meet up the household expenses. The trustee of R’s assets filed a lawsuit against S for accounting.
To find: Duty owed by S to R.
Case summary: The person S became a legal caretaker of the person R. R created a power of attorney in the favor of S. S opened a Joint bank account with R and deposited $9,643.62 in bank A. However, the person S withdrew some money to meet up the household expenses. The trustee of R’s assets filed a lawsuit against S for accounting.
To find: The requirement of an agent’s duty of accounting towards his principal.
Case summary: The person S became a legal caretaker of the person R. R created a power of attorney in the favor of S. S opened a Joint bank account with R and deposited $9,643.62 in bank A. However, the person S withdrew some money to meet up the household expenses. The trustee of R’s assets filed a lawsuit against S for accounting.
To find: The breach of such duty by S in the given case.
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Chapter 19 Solutions
The Legal Environment of Business: Text and Cases
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