Asked by Kayla Renay on Apr 27, 2024
Verified
Jack was fired by Bob but decided to try to win back his job as agent by getting a big new contract. He approached Sharon, a new client, and made a pitch to sell Bob's product. Sharon agreed to buy 100. Jack tells Bob. What are the legal consequences?
A) Bob has to hire Jack again and then make the deal.
B) Bob would have to ratify the deal to get the benefit of the contract.
C) Bob would have to negotiate the deal with Sharon himself.
D) Jack would forfeit his commission if Bob took the contract.
Ratify
To formally approve or confirm, often used in the context of treaties, agreements, or legislation.
Commission
A fee paid to an agent or employee for completing a task or making a sale, which is often a percentage of the sale's total value.
Legal Consequences
are the outcomes that follow from the application of the law, such as penalties for breaking the law or the results of legal judgments.
- Comprehend the principles of ratification and adoption as they pertain to contracts made without authorization.
- Identify the distinctions among actual, implied, and apparent authority in the realm of agency law.
Verified Answer
Learning Objectives
- Comprehend the principles of ratification and adoption as they pertain to contracts made without authorization.
- Identify the distinctions among actual, implied, and apparent authority in the realm of agency law.
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