Although Jason had participated in the flower auction for the last nine years as an agent for Thomas Holt Ltd. (Holt) with the authority to buy whatever he felt the store needed, this day he was given express instructions to buy only cut flowers. When flats of young camellia bushes with a rare gold flower were being sold, Jason bought them on behalf of the company. Which of the following is false?
a. Holt is not bound by the contract, because Jason’s authority was expressly restricted.
b. Holt is bound even if it doesn’t ratify the contract.
c. Holt is bound by the contract, but Jason is in breach of his agency agreement.
d. Holt is estopped from denying Jason’s authority.
e. Holt would not be bound if the auctioneer had been notified of Jason’s limited authority.