Unless otherwise agreed to, agents are presumed to:

serve gratuitously

serve for reasonable compensation

serve for a statutorily defined compensation of $35 per hour

none of the above

With regard to contracts entered into by agents on behalf of principals while acting under either express or implied authority:

the agent is not a party to the agreement

the principal is bound on the agreement

the agent has no liability under the agreement

all of the above

none of the above