26.) Marco was a furniture buyer for Wellart Department Stores. Marco was authorized to enter into contracts worth up to $50,000. Marco entered into a contract with Frank's Furniture to purchase $100,000 worth of dining room furniture. If Wellart refuses to honor the contract and Frank's sues,

A. Wellart will win since it never ratified the contract.

B. Frank's will win, as Marco had implied and/or apparent authority.

C. Frank's will win, as Marco had express authority.

27.) The inherent power of an agent to accomplish the purpose of the agency comes from the agent's

A. apparent authority.

B. incidental authority.

C. express authority.

D. implied authority.

28.) On behalf of Bayner, Inc., Myron entered into a contract with Southern. Southern was not aware that Myron was acting on Bayner's behalf. If the contract is breached, Southern could potentially sue

A. Bayner only.

B. Both Bayner and Myron.

C. Neither Bayner nor Myron.

29.) _____________ allows for a company to be held liable for the actions of an agent, even if the agent is an independent contractor.

30.) __________________ is legal responsibility for the wrong committed by another person, in this case the employer's liability for the wrongs committed by the employee.