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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.
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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