Carl loans Dan $1,500 for Dan's honeymoon. Dan gives Carl his ruby ring as security for the loan and after a year, tells Carl he may as well sell it to recoup the $1,500. When Dan's wife hears of this, she persuades Dan to call Carl and get back the ring. Can Carl sell it anyway?
A) Yes, because Carl has apparent authority.
B) Yes, because Carl has an express agency.
C) No, Carl's authority has been revoked.
D) Yes, because Dan cannot terminate this agency except by discharging the obligation.

Question

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The Answer of Carl loans Dan $1,500 for Dan's honeymoon. Dan gives Carl his ruby ring as security for the loan and after a year, tells Carl he may as well sell it to recoup the $1,500. When Dan's wife hears of this, she persuades Dan to call Carl and get back the ring. Can Carl sell it anyway?
A) Yes, because Carl has apparent authority.
B) Yes, because Carl has an express agency.
C) No, Carl's authority has been revoked.
D) Yes, because Dan cannot terminate this agency except by discharging the obligation.

Carl Loans Dan $1,500 for Dan's Honeymoon