Carl Loans Dan $1,500 for Dan's Honeymoon

question 49

Multiple Choice

Carl loans Dan $1,500 for Dan's honeymoon.Dan gives Carl his ruby ring as security for the loan and after a year,tells Carl he may as well sell it to recoup the $1,500.When Dan's wife hears of this,she persuades Dan to call Carl and get back the ring.Can Carl sell it anyway?

• A) No,because Carl's agency has been revoked
• B) No,because an unreasonable amount of time has elapsed
• C) Yes,because Carl has apparent authority
• D) Yes,because Dan cannot terminate this agency

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Definitions:

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