A principal's intent to ratify a contract:
A) needs to be expressed explicitly.
B) may not be implied by his acts or failure to act.
C) may be inferred by a court from the fact that the principal accepted the benefits of an unauthorized contract.
D) may be inferred from the principal's repudiation of an unauthorized contract after becoming aware of it.
Correct Answer:
Verified
Q24: General agents:
A)have a limited range of implied
Q25: A large and well-known corporation wants to
Q26: Which of the following statements is true
Q27: Jen is a buyer for Autumn's Iowa
Q28: Ratification may be inferred by a court:
A)from
Q30: For ratification to be effective:
A)the principal cannot
Q31: When Nancy's aunt left for her annual
Q32: An agent will be relieved from liability
Q33: The principal is bound by representations:
A)that are
Q34: Where an agent has taken an unauthorized
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