Mike Authorizes His Agent,Ben to Borrow a Sum of $10,000

question 82

Multiple Choice

Mike authorizes his agent,Ben to borrow a sum of $10,000 on his behalf from the National Bank.Ben signs his name to a note without disclosing that the signature was on behalf of Mike.Who is liable on the note?

• A)Only Mike is liable.
• B)National Bank is liable.
• C)Both of them are liable.
• D)Only Ben is liable.