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Settlement contract is valid because dewey

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Reference no: EM132313542

O'Leary Corp. is sued in Texas court by a supplier for breach of contract. It hires the Dewey, Cheatem & Howe law firm to represent it in the contract dispute and gives the firm permission to settle the dispute for up to $100,000. The firm does negotiate a settlement, but for $110,000. Which is most accurate about the validity of that settlement contract?

  • The settlement contract is valid because Dewey, Cheatem & Howe had express authority to negotiate a settlement and used its discretion in doing so
  • The settlement contract is invalid because Dewey, Cheatem & Howe exceeded the scope of its express authority
  • Although Dewey, Cheatem & Howe exceeded the scope of its express authority, the settlement contract would be valid if O'Leary Corp. ratifies it
  • The settlement contract is voidable, but only at the option of O'Leary's supplier.

Reference no: EM132313542

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