The following contract was executed on August 22: Ray agrees to sell, and Shaw, the representative of Todd and acting on his behalf, agrees to buy 10,000 pounds of 0.32 × 15/8 stainless steel strip...

The following contract was executed on August 22:

Ray agrees to sell, and Shaw, the representative of Todd

and acting on his behalf, agrees to buy 10,000 pounds

of 0.32 × 15/8 stainless steel strip type 410.

(signed) Ray

(signed) Shaw

On August 26 Ray informs Shaw and Todd that the contract was in reality signed by him as agent for Upson. What

are the rights of Ray, Shaw, Todd, and Upson in the event of a

breach of the contract?