20. Arthur authorizes Bob to sell his eighty acres of farm land for $800 per acr

Question

20. Arthur authorizes Bob to sell his eighty acres of farm land for $800 per acre. Subsequently, oil is discovered on the neighboring land and Arthur's land greatly increases in value. Bob is aware of this, but Arthur is not a. Bob can sell the land to his brother for $800 per acre. b. Bob can sell the land to a stranger for $800 per acre, but not to his brother c. Bob's authority to sell the land is terminated by operation of law d. Bob's authority to sell the land is terminated by the acts of the parties

Explanation / Answer

b- From the given options this option b is best in this situation. Bob by knowing the fact if sale the land to his brother then it will be treated as conflict of interest because Bob has not updated Arthur about the increased value of the land.He can sale it to strangers with out any quid-pro quo basis.

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