Asked by
Chelsea Dinnin
on Nov 10, 2024Verified
Ratification of a contract can take place by the principal knowingly taking a benefit under the contract.
Knowingly
Acting with awareness or deliberate intention, often referenced in legal contexts to imply a person had knowledge or should have had knowledge of the implications of their actions.
Ratification
The act of formally confirming or approving an agreement, often after the agreement is initially made, to make it officially valid.
- Acquire knowledge about the steps and requirements needed for the ratification of agency agreements by principals.
Verified Answer
AP
Learning Objectives
- Acquire knowledge about the steps and requirements needed for the ratification of agency agreements by principals.