Ratification

question 49

Multiple Choice

Ratification:

• A) can only occur after the third person withdraws from the transaction and gives notice of such withdrawal.
• B) can be effected by a disclosed or an undisclosed principal according to the Second Restatement.
• C) relieves the agent of any liability she may have to the third party by reason of her having induced the third party to enter the contract without the principal's authority.
• D) may be made by a principal that was not in existence at the time the contract was made.

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Definitions:

Transformational Leadership

Leadership approach that causes change in individuals and social systems, enhancing motivation, morale, and performance.

Charismatic Leadership

A leadership style characterized by an individual's ability to inspire and motivate followers through personal charm and persuasive communication.

Transformational Leadership

involves leaders working with their teams to identify needed change, creating a vision to guide the change through inspiration, and executing the change in tandem with committed members of the group.

Referent Power

A form of power that stems from being admired and respected. It's the influence one has because others want to identify with or be like them.