20 points Apparent authon'ty protects third parties who reasonably rely on the principal's manifestations that the agent has authority. True False 20 points It is always necessary for an agent to disclose the identity of the principal to any third person with whom he is contracting; else the contract becomes void. True False 20 points An agent who purports to act for a legally nonexistent principal is personally liable when the agent knows or has reason to know the principal does not exist. True False 20 points Which of the following is true of implied authority\"? It can contradict a principal's express statements. It exists even when the princrpal has limited the agent's authority through clear instructions. It is usually derived from a grant of express authority by the princrpal. It exists only it there is a relevant grant of express authority. 20 points 9 Ralph, the owner ofa mediumsized business which is operated as a sole proprietorship, gives his Vicepresident, Wanda, authority to hire a new manager for the rm. Ralph gives Wanda detailed instructions about the salary she can contract to pay, but tells her that under no circumstances can she make commitments regarding the new manager's pension. Wanda contracts to hire Nick for the new managen'al position. But to get Nick to sign up, she has to make certain specic pension commitments to him. Some years later, Nick sues Ralph for copping out on those pension commitments. Which of the following is true in this case? Ralph has no liability] because he expressly told Wanda that she didn't have authority to bind him on pension matters Ralph is bound on the basis of Wanda's apparent authority. Ralph is bound on the basis of Wanda's implied authority. Ralph is bound on the basis of Wanda's actual authon'ty