I purchased a 1951 mercury from a classic car dealership. it was represented as a car built by George barris[ a very famous classic car builder making the the car much more valuable car]. about a year later I learned that barris didn't build the car and the cars value dimished greatly. the sale was based on fraudulent representation. I signed a release of liability for the agent. the agent had the car on consignment for sale. did this release of liability of the agent also release the principal of the fraud????????? R.L.XXXX
ely case 13358217 873 I received your reply but did not answer the question I asked. does a release of the agent also release the principal?? Richard
Hello friend and thank you for requesting me.
Apologies, and allow me to be more specific.
If the agent signed the note FOR THE PRINCIPAL, then yes, the note releases the principal as well.
But if the agent acts as an "agent" in the true sense of the word in that they represent the principal, then, the agent himself is not released, only the principal.
If the agent signed the note for himself only, then it does not release the principal.
It gets a little murky, so if you can provide more detail, perhaps we can dissect this issue.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).