Which of the following statements is correct?

a.Apparent authority exists where aprincipal holds out or represents an agentashaving the necessary authorityand theoutsider relies on the principal's representationto enter into a transaction with the company.

b.Apparent authority exists when an agent holds himself out as having the necessary authority and the outsider relies on the agent's representation to enter into a transaction with the company.

c.Apparent authority exists when a principal expressly gives an agent authority to enter into a transaction with an outsider.

d.Apparent authority exists where a principal holds out or represents an agent as having the necessary authority and the outsider knows that the agent does not have authority but enters into the transaction anyway.