22 question 22

Company A hored Nich as an agent and gave him a letter authorizing him to make purchases on behalf of the company. In a separate email, the company explained to Nich that he could only make purchases for 100,000 or less. In other words, 100,000 was the reservation price for his negotiations. Nich proceeded to negotiate a contract with a new supplier, B, in which he purchased goods for 95,000. Nich showed B the letter of authority from the company but did not mention the 100,000 limitation that the company explained in the email. selec one:

Company A is bound by the contract because Nich had express authority

Company A is bound by the contract because Nich had apparent authority

Company A is not bound by the contract because Nich of illegality

Company A is bound by the contract because of unconscionability

Company A is bound by the contract because of fraud

none of above