Agent negotiates contract with third party for which agent

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Reference no: EM13821666

An agent negotiates a contract with a third party for which the agent did not have express authority. Which of the following is true?

The principal can never be held liable on the contract because the agent exceeded his authority.

The principal can be liable on the contract only if the agent had implied authority to enter into the contract.

The principal can be liable on the contract only if apparent authority was present.

Either implied or apparent authority might cause the principal to be liable on the contract.

Reference no: EM13821666

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