A Principal Is Contractually Bound to a Third Party If

question 61

True/False

A principal is contractually bound to a third party if the agent acts without any authority but the principal ratifies the contract.

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Definitions:

Novelty

The state or quality of being new, unique, or unusual.

Person's Perception

An individual's interpretation or understanding of the stimuli or situations they encounter.

Abstract Set

A conceptual collection of distinct objects, often used in mathematics, where the elements are not necessarily concrete items but can represent ideas or conditions.

Particular Category

A particular category refers to a specific group or classification, defined by distinct characteristics or criteria.