Which of the following statements on ostensible authority in relation to company contracting is incorrect?

For ostensible authority to be created, there must be a representation that the agent had authority to enter contract of the kind entered into by the agent on behalf of the company.

For ostensible authority to be created, the representation that the agent had authority must be made by the board or the managing director.

For ostensible authority to be created, the third party must have been induced by the representation to enter contract

For ostensible authority to be created, the representation that the agent had authority may be made by words or conduct.