Asked by Laura Cinnamon on Jul 02, 2024
Verified
The only acceptable method of ratification is for the principal to explicitly approve the signature of the unauthorized agent.
Ratification
The formal approval or confirmation of an act or agreement that was signed but not yet authorized.
Unauthorized Agent
An individual who acts on behalf of another without having the legal or official permission to do so.
Principal
The amount of money that is originally invested or loaned, prior to interest or profit.
- Understand the criteria needed for the approval of non-authorized acts and their consequences on responsibility.
Verified Answer
JM
Jazlynn McNeill6 days ago
Final Answer :
False
Explanation :
Ratification can be explicit or implicit, meaning the principal can approve the actions of the unauthorized agent either by directly stating approval or by actions that imply consent.
Learning Objectives
- Understand the criteria needed for the approval of non-authorized acts and their consequences on responsibility.