Question

Howard wants to purchase a vacation property. He decides to use the expertise of a real estate professional. One of his business associates recommends Jose. Howard explains to Jose that he wants Jose to only represent his purchasing interest, and a contract is signed. Who is the agent

Answer 1

Jose is the agent

Step-by-step explanation:

From the question,

Agent= Jose

Principal= Howard

An agent is an individual who is empowered to represent the interest of the principal. An agent performs a function on behalf of the principal. He carries out task assigned by a principal. It is the responsibility of the agent to carry out functions assigned to him by the principal with high level of intelligence and skills.

A principal refers to an individual who hire another person to perform a function on his behalf.

That is, the person seeking out the service of a professional. He assigns duties or responsibility to the agent.

There should be no conflict of interest between the agent and the principal because it could lead to problem of principal-agent problem.

Answer 2

Jose is the Agent

Step-by-step explanation:

From the question, it can be seen that Jose is the agent and Howard is the principal. Agent is defined as a person or an individual who acts on behalf or in the best interest of another. Here, a contract was signed empowering Jose to represent the purchasing interest of Howard who is the principal in this case. The agent is legally empowered to act in the interest if another individual.