Mark used to sell farm equipment.Currently he is working as an agent for Phil, selling business equipment.Recently Phil inherited the family farm from his mother, including an old shed full of antiquated equipment.Phil thinks that most of the stuff is "junk," but asks Mark to sell what he can of the stuff.There is an old "wringer washer;" Phil tells Mark, "get at least $50 for this."Their small Missouri town has just been designated as the site for the national "Appliance History Museum," a fact that Mark knows, but Phil does not know.Mark's best friend, Sean, is an antique dealer and hopes to be named curator of the museum.The wringer washer is in especially good condition and would be worth $500 as a museum piece.Mark tells Sean "I can get the washer for you really cheap.Phil (my boss) will never know the difference."Mark sells the wringer washer to Sean for $80, and hands the $80 to Phil.

3.Is Phil (Principal) bound to the sale or can Phil (Principal) rescind the washer contract with

Sean (3d Party)?[First, identify the legal theory that supports your answer and then explain

its application to specific facts. ]