_____ occurs when a principal voluntarily decides to honor an agreement, which otherwise would not be binding due to an agent's lack of authority.
A) Novation
B) Ratification
C) Negotiation
D) Release
E) Waiver

Question

Quizplus · Accepted Answer

Ratification occurs when a principal voluntarily decides to honor an agreement, which otherwise would not be binding due to an agent's lack of authority.

_____ Occurs When a Principal Voluntarily Decides to Honor an Agreement