It is hereby agreed that AAA Company shall, at the end of three years after the date, repurchase the stock at $13 per share on thirty days’ notice. AAA Company, by Oppson.
After three years, demand was made on AAA Company to repurchase. The company refused the demand and repudiated the agreement on the ground that the agent had no authority to make the agreement for repurchase. Is AAA Company liable to Barnes? Explain.
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