Which of the following is correct with respect to the ratification of an agent's contracts?

Question

Quizplus · Accepted Answer

The principal can ratify a contract even if the agent has exceeded his actual or apparent authority, as long as the principal has the capacity to enter into the contract at the time of ratification. Additionally, there is no time limit set by the agent for the ratification to take place. The contract commences from the time of entry into the contract by the agent, not the time of ratification by the principal. The principal can still ratify a contract even if his name was used by the agent in the agreement.

Which of the Following Is Correct with Respect to the Ratification