1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Naddika [18.5K]
3 years ago
5

Jonah tells his friend Derek that he would like to go parasailing. Derek is very enthusiastic and suggests that they try an outf

it called Wind Beneath My Wings because he has heard good things about it. Derek offers to arrange everything. He makes a reservation, puts the $600 fee on his credit card, and picks Jonah up to drive him to the Wings location. What a friend! But the day does not turn out as Jonah had hoped. While he is soaring up in the air over the Pacific Ocean, his sail springs a leak, he goes plummeting into the sea and breaks both legs. During his recuperation in the hospital, he learns that Wings is unlicensed. He also sees an ad for Wings offering parasailing for only $350. Derek is listed in the ad as one of the company's owners.
Required:
a. Does an agency relationship exist between Derek and Jonah?
b. Discuss what duties the agent had to the principal in the above example. Did the agent fulfill his duties? Why or Why not?
Business
1 answer:
nekit [7.7K]3 years ago
8 0

Answer:

- Derek is an agent of Jonah

- Derek failed in his fiduciary duties to his principal

Explanation:

An a agent is someone that is appointed by a principal to take care of their interests. The agent's loyalty is to only his principal and he should not manipulate the relationship for personal gain.

In the given scenario Jonah appointed Derek to arrange for parasailing activity. So he is an agent to Jonah in this respect.

However Derek chooses an outfit called Wind Beneath My Wings where he is an owner, he put aside $600 instead of $350 for the reservation, and the company is unlicensed.

All these are violations of Derek's fiduciary duty. He put Jonah at risk for his own personal gain.

You might be interested in
For an individual who is participating in a 45-minute walk, how essential is this beverage?
NNADVOKAT [17]
In any kind of exercises, may it be a 45-minute walk or running or swimming, beverages such as water is essential. A person must drink water before, during, and after exercises. This is because a person needs to maintain his hydration while exercising for it regulates body temperature and helps lubricate the joints. Also, it contains nutrients which keep you healthy.
6 0
3 years ago
Read 2 more answers
Qué importancia tiene llevar contabilidad para las empresas en El Salvador? ayuda porfavorrr​
miv72 [106K]
La importancia de la contabilidad radica en que, sin ella, no sabrías cuánto dinero entra y sale de tu organización ni podrías planear para el crecimiento futuro
7 0
3 years ago
What is financial risk?
Rashid [163]

Answer:

what are the options? then ill reply with an answer.

3 0
3 years ago
Once a firm has created its facebook page, it can devise advertisements and rely on facebook's targeting options to deliver thos
shepuryov [24]
The answer is "experiment or experimental research".

Experimental research refers to the kind of quantitative research that deliberately controls at least one factors to figure out which factors casually affect different factors. Now many firms and companies are actively using this type of quantitative research on Facebook. 
3 0
3 years ago
Which 3 types of customer statements can QuickBooks Online generate?
Phantasy [73]

Answer:

beg8ner ine expert one explorer ine is types of it

8 0
2 years ago
Other questions:
  • Tidy Limited purchased a new van on January 1, 2018. The van cost $32,000. It has an estimated life of eight years and the estim
    8·1 answer
  • In year 1, Kris purchased a new home for $200,000 by making a down payment of $150,000 and financing the remaining $50,000 with
    15·1 answer
  • Best’s Fried Chicken just took out an interest-only loan of $50,000 for three years with an interest rate of 8.15 percent. Payme
    13·1 answer
  • In how many cities are Federal Reserve district banks located? 4 12 50 8
    6·2 answers
  • To temporarily offset a depreciation in the dollar's exchange value, the Federal Reserve could ____ the U.S. money supply which
    5·1 answer
  • How to get a refund on Brainly
    7·2 answers
  • 7. Which of the following characteristics should exist to
    5·1 answer
  • A company issues $100,000 face value, zero-coupon, 4-year U.S. corporate bonds on January 1, 20XO, when the market rate for simi
    15·1 answer
  • Do you think that customers are more empowered today than they were before social media and other digital communication was so p
    14·1 answer
  • Producing or associated with the generation of pus is:_________
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!