Is ralph liable, Ralph owned a retail meat market. Ralph's agent Sam, without authority, Business Law and Ethics

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Is ralph liable

Problem

Ralph owned a retail meat market. Ralph's agent Sam, without authority but purporting to act on Ralph's behalf, borrowed $7,500 from Ted. Although he never received the money, Ralph repaid $700 of the alleged loan and promised to repay the rest. If Sam had no authority to make the loan, is Ralph liable? Why?

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Business Law and Ethics: Is ralph liable

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Business Law and Ethics: Is ralph liable

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