The equal dignity rule requires that if a contract entered into by an agent is in writing,the principal must honor it.

Question

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The equal dignity rule requires that if a contract entered into by an agent is required by law to be in writing (such as contracts for the sale of land or contracts that cannot be performed within a year), then the agent must have written authority from the principal to enter into the contract. If the agent does not have written authority, the principal is not bound by the contract. The principal can still choose to honor the contract, but is not legally required to do so.

The Equal Dignity Rule Requires That If a Contract Entered