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Wilson Corporation, located in Texas, employed Nick to act as its agent to obtain oil and...

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Operations Management

Wilson Corporation, located in Texas, employed Nick to act asits agent to obtain oil and gas leases. Nick had authority tocontact property owners, negotiate a lease for the owner’s mineralrights, and to pay a “reasonable” price for the leases. Whilenegotiating with Brandon in Costa Rica; Brandon indicated that hedid not want to sign an oil and gas lease but instead offered tosell his land to Wilson outright at what appeared to be a very goodprice. Brandon made the offer at 9:00 PM on July 3rd, 2020 andinformed Nick that he had 24 hours to accept the offer as he hadother interested potential buyers. Due to the holiday weekend Nickwas unable to get instructions from Wilson, so Nick acceptedBrandon’s offer. Answer the following questions, providing a legalrationale for each answer.

a) Did Nick have implied authority to accept Brandon’s offer?Why or why not?

b) Assuming that Nick did not have actual or implied authority,answer the following questions: 1. What advice would you giveWilson if it wanted to go through with the purchase? Be specific.2. If Wilson did not want to honor the deal, what argument(s)should Brandon make?

c) Would it make a difference if the agency agreement was oral?d) Would it make a difference if Nick was a minor?

Answer & Explanation Solved by verified expert
3.7 Ratings (373 Votes)
answer A Yes Nick has implied authority to accept Brandons offer because Implied authority comes automatically and reasonably incidental which is not express or written but very necessary for an agent to complete transactions on behalf of principal or company Under contract law implied authority figures have the ability to make a legally binding contract on    See Answer
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