Mike hires Tom, a general contractor, to renovate his apartment while he is away on vacation. Mike expects Tom to have completed the work by the time he gets back in three weeks. Tom’s team needs asphalt roof shingles to install a new roof but Tom does not have a regular supplier. Assuming he has the authority in Mike’s absence, Tom signs a sales contract on behalf of Mike to obtain the shingles from a third party. The contract allows Mike to make the payment for the shingles over the course of the next three months. When Mike returns, Tom informs him about this contract. Mike neither ratifies nor repudiates the contract. Based on this scenario, which of the following statements is most likely to be true?