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Explain Why Agency by Estoppel Forces a Principal to Be

question 39

Essay

Explain why agency by estoppel forces a principal to be bound by an unauthorized contract.Contrast and briefly discuss this with respect to a principal's position under agency by ratification.


Definitions:

Theoretical Probability

The probability of an event computed based on known possible outcomes, assuming each outcome is equally likely.

Personal Probability

An individual's subjective measure of the likelihood that an event will happen.

Attorney

A professional who is qualified to offer advice about the law or represent someone in legal matters.

Age at Retirement

The specific age at which an individual ceases full-time work and formally enters retirement, varying by personal choice, company policy, or statutory requirements.

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