Theodore, as Treasurer of Komand Corporation, Had the Duty to Invest

Theodore, as treasurer of Komand Corporation, had the duty to invest corporate earnings as he deemed best for the company. When Komand Corporation went public, the new board decided that a committee of the officers would make such investment decisions. If Theodore thereafter unilaterally contracted to purchase investment securities with corporate earnings as he had done many times before, such contract would be valid:

A) since Theodore would have express authority.
B) since Theodore had implied authority.
C) under apparent authority if the seller knew of Theodore's past transactions.
D) because of ratification if the board did not know of his actions.