10) Which of the following is true with respect to the agency relationship?

a. An agent acting gratuitously can never bind the principal.

b. An agent's apparent authority may be implied from the position that the agent holds in

the employer's organization.

c. When a principal has specifically limited the authority of the agent, that agent can

never bind the principal in a contract, even if the agent acts outside his authority.

d. An agent's authority is limited to whatever authority the principal specifically gives the

agent.

e. Actual authority is the authority the principal has implied in conversations with a third

party.