Although Jason Had Participated in the Flower Auction for the Last

question 10

Multiple Choice

Although Jason had participated in the flower auction for the last nine years as an agent for Thos. Holt's Ltd. (Holt) , with the authority to buy whatever he felt the store needed, this day he was given express instructions to buy only cut flowers. When flats of young camellia bushes with a rare gold flower were being sold, Jason bought them on behalf of the company. Which of the following is true?

• A) The key to determining whether or not Holt is bound by the contract is this: in the circumstances, should the auctioneer have confirmed with Holt the extent of Jason's authority?
• B) Holt is not bound since Holt didn't ratify the contract.
• C) Holt is not bound by the contract, because Jason is in breach of his agency agreement.
• D) Holt is not bound by the contract, because Jason's authority was expressly restricted.
• E) Holt is estopped from denying Jason's authority.

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Definitions:

Visual Perspicacity

The ability to observe and understand visual information with sharpness and clarity.

Optic Chiasma

The X-shaped structure formed by the crossing over of the optic nerves in the brain, which allows visual information from each eye to be processed on both sides of the brain.

Blind Spot

Area in the retina where the axons of the three layers of retinal cells exit the eye to form the optic nerve; insensitive to light.

Fovea

A small depression in the retina of the eye where visual acuity is highest, due to the high concentration of cones and absence of rods.