Lei Chu-Ming is a purchasing agentemployee for the A & B Coal Supply partnership. Chu-Ming has authority to purchase the coal needed by A & B to satisfy the needs of its customers. While Chu-Ming is leaving a coal mine from which she just purchased a large quantity of coal, her car breaks down. She walks into a small roadside grocery store for help. While there, she runs into Darin Wilson, who owns 360 acres back in the mountains with all mineral rights. Wilson, in need of cash, offers to sell Chu-Ming the property for $1,500 per acre. On inspection of the property, Chu-Ming forms the opinion that the subsurface contains valuable coal deposits. Chu-Ming contracts to purchase the property for A & B Coal Supply, signing the contract "A & B Coal Supply, Lei Chu-Ming, agent." The closing date is August 1. Chu-Ming takes the contract to the partnership. The managing partner is furious, as A & B is not in the property business. Later, just before closing, both Wilson and the partnership learn that the value of the land is at least $15,000 per acre. Discuss the rights of A & B and Wilson concerning the land contract.