Question 2 of 2 3 points possible (ungraded) Violet, an engineer, is the president of a start-up company in Silicon Valley, California. She wants to open another office in Austin, Texas, and plans a trip with the company’s development strategist, Jake, to find office space in Texas. Unfortunately, a day before Violet and Jake were supposed to leave for Texas, the company’s senior counsel, Emily, informed Violet that the company’s settlement offer for a patent infringement dispute with a competitor had failed. As a result, the case was going to trial and Violet needed to stay in California for depositions. Violet instructed Jake to continue on with the trip and select a building in downtown Austin that has at least 10,000 square feet and costs less than $15,000 per month. Once Jake arrives in Austin, he contacts Casey, a commercial real estate agent. Casey shows him several properties that meet the square footage and rent caps, and Jake signs a lease on one of the spaces.

A. Jill has a painting in her office that John, an art collector, has spent the past six months searching for. John, ecstatic when he walked into Jill’s office on another matter, offered to buy the painting for $1,000. Though the painting is only worth $750, Jill declined, as it was a gift from her mother.

B. Charlie needs to purchase textbooks for his upcoming semester at the University of Ames. Without them, Charlie may fail his classes and be kicked out of his academic program. The University of Ames, of course, wants Charlie to pass so they can continue receiving their tuition payments. Currently, however, Charlie does not have the money to pay for his textbooks, so he calls the local bank and gets a student loan—in exchange for the bank fronting the money for his textbooks, he will pay back the cost with interest following graduation.

C. Mia recently moved to Chicago for her job and wants to adopt a dog. Because of apartment restrictions, Mia is limited to certain breeds of dogs. The local animal shelter has hundreds of dogs and is overcrowded, but does not track or publish the specific breeds of available dogs. Thus, Mia cannot accurately complete the pet application with her apartment because she cannot identify the breed of any of the rescue dogs.

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Identify the agent, principal, and third party in this scenario.

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