Facts
McDuffies owned properties which were sold to the Halls and to Summit Enterprises. A foreclosure proceeding was instituted and Mutual requested petitioner place a bid on their behalf. It was initially requested a bid be placed to extinguish the loan then changed to a bid of $1,000. Petitioner was never informed of the change and bid $43,361.17.
Procedural History
Judge denied petitioner’s motion to withdraw the bid.
Issue(s)
Did the judge err in refusing to withdraw the bid?
Holding(s)
No.
Reasoning/Analysis
The Court found that petitioner acted within the scope of his apparent authority and Mutual is bound on the resulting contract despite the alleged mistaken bid.
Judgment/Outcome
The Court affirmed the judgment of the lower court.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment