Question: Rae is a purchasing agent for Cable & Wire Corporation. Alex, a Cable & Wire corporate officer, gives Rae written authority to buy for the

Rae is a purchasing agent for Cable & Wire Corporation. Alex, a Cable & Wire corporate officer, gives Rae written authority to buy for the firm as much steel as necessary. The next day, Alex calls Rae and tells her to only buy five rods of steel and no more, but Rae shows the written authority to Earth Resources Inc., and enters into a contract to buy more than five rods of steel. Earth Resources then ships the order to Cable & Wire. Is Cable & Wire liable to Earth Resources under the contract? Is Rae liable? In each case, explain why or why not.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Beryl is a purchasing agent for Cable & Wire Corporation. Doyle, a Cable & Wire corporate officer, gives Beryl written authority to buy for the firm as much copper as necessary. The next day, Doyle...

Alice is a purchasing agent for Cable & Wire Corp. Doyle, the CEO of Cable & Wire gives Beryl a written letter authority her to buy for the firm as much copper as necessary. The letter is written on...

11 Beryl is a purchasing agent for Cable & Wire Corporation. Doyle, a Cable & Wire corporate officer, gives Beryl written authority to buy for the firm as much copper as necessary. The next day,...

I Question 41 20 pts Beryl is a purchasing agent for Cable & Wire Corporation. Doyle, a Cable & Wire corporate officer, gives Beryl written authority to buy for the firm as much copper as necessary....

I did not understand 3 each question to answer and 3 each paragraph please you have to prefect English grammar. This is business law. 1) Alice is a purchasing agent for Cable & Wire Corp. Doyle, the...

I did not understand 3 each question to answer, please can you all answer and each paragraphs. This is business law. 1)Alice is a purchasing agent for Cable & Wire Corp. Doyle, the CEO of Cable &...

Christi is a purchasing agent for Honda Motors Corporation. Dan, a Honda corporate officer, gives Christi written authority to buy for the firm as much tires as necessary. The next day, Dan calls...

(business law) Christi is a purchasing agent for Honda Motors Corporation. Dan, a Honda corporate officer, gives Christi written authority to buy for the firm as much tires as necessary. The next...

39. What amount would need to be paid each January 1 if at the end of 15 years (15 payments) you desired the amount of $10,000? Annual in- terest is 5%. (Note: The last payment will coin- de with the...

Yang Co. was organized on April 1, 2017. The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below. (a) Determine the net income for the...

An insider is liable for so - called short - swing profits only if she has used inside information. True False

Bond X is noncallable and has 20 years to maturity, a 9% annual coupon, and a $1,000 par value. Your required return on Bond X is 12%; if you buy it, you plan to hold it for 5 years. You (and the...