Asked by Michelle Dalton on Jun 26, 2024
Verified
Nolan worked as delivery person for the Super Soap Suds Company.In this capacity,he would frequently collect money from customers for Super Soap Suds.One week,he carelessly allowed his son to deposit the money on his behalf.His son deposited the money in Nolan's personal account.When Nolan tried to retrieve the money,he did not know how much belonged to Super Soap Suds.What legal remedy does Super Soap Suds have against Nolan? Explain.
Legal Remedy
A resolution provided through the judicial system to enforce a right, compensate for harm, or impose a penalty for violation of a legal right.
Personal Account
An account managed by an individual, used for the tracking of personal finances, transactions, and investments.
- Understand the tasks and occurrence rate of financial accountability an agent must provide to their principal.
- Explore the legal penalties and recovery options available when agents breach their duties or contravene principles of agency.
Verified Answer
DW
Dylan WalterJul 01, 2024
Final Answer :
Soap Suds can recover the money held by Nolan to which they are entitled as well as a breach of fiduciary duty suit against Nolan for commingling company funds with his own personal funds.
Learning Objectives
- Understand the tasks and occurrence rate of financial accountability an agent must provide to their principal.
- Explore the legal penalties and recovery options available when agents breach their duties or contravene principles of agency.
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