Agency by Ratification Occurs

question 26

Multiple Choice

Agency by ratification occurs

• A) only in cases of corporations.
• B) before the agent acts on behalf of the principal.
• C) after the agent acts on behalf of the principal.
• D) when the principal releases the agent from fiduciary duties.

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Definitions:

Summary Jury Trial

A shortened trial that serves as an alternative dispute resolution method, involving a jury which listens to a summary of the case and renders an advisory verdict.

Submission Agreement

A contract which provides that a specific dispute will be resolved in arbitration.

ADR Techniques

Alternative Dispute Resolution methods, including mediation, arbitration, and negotiation, used to resolve conflicts outside the traditional court system.

Conciliation

A process in which a neutral third party assists disputing parties to reach a mutually agreeable solution.