When an agent enters into a contract on behalf of a principal, the princi?pal must ratify the contract to be bound to it.

Name: When an agent enters into a contract on behalf of a principal, the princi?pal must ratify the contract to be bound to it.
Brand: Quizplus
Rating: 4.9 (34 reviews)

Question

Quizplus · Accepted Answer

If an agent has the authority to act on behalf of the principal, the principal is bound by the contract without needing to ratify it. Ratification is only necessary if the agent acted without authority.

When an Agent Enters into a Contract on Behalf of a Principal