Question
Ralph owned a retail meat market. Ralph's agent Sam, without authority but purporting to act on Ralph's behalf, borrowed $7,500 from Ted. Although he never
Ralph owned a retail meat market. Ralph's agent Sam, without authority but purporting to act on Ralph's behalf, borrowed $7,500 from Ted. Although he never received the money, Ralph repaid $700 of the alleged loan and promised to repay the rest. If Sam had no authority to make the loan, is Ralph liable? Why?
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Legal Environment of Business A Managerial Approach Theory to Practice
Authors: Sean Melvin, Enrique Guerra Pujol
3rd edition
1259686205, 978-1259686207
