Question: Select the correct statement concerning liability on an authorized contract negotiated for an undisclosed principal. Only the principal is liable, because the agent was authorized.

Select the correct statement concerning liability on an authorized contract negotiated for an
undisclosed principal.
Only the principal is liable, because the agent was authorized.
The contract is unenforceable by the third party.
Only the agent is liable, because the third party did not know of the identity of the principal when
the contract was negotiated.
The other party can sue either the agent or the hidden principal.

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