ConElectric Inc. is a consumer electronics company. Arnold is a procurement officer and ConElectric agent who procures components from suppliers on the companys behalf. ConElectric recently terminated Arnolds contract but did not inform the suppliers. After his termination, Arnold pretended that he was still working for ConElectric, collected components from suppliers, and absconded without paying. In the context of termination of the agency relationship, which of the following statements is most likely to be true