Authority by Ratification Exists If the Principal

question 20

Multiple Choice

Authority by ratification exists if the principal:

• A)Authorises the agent's act retrospectively.
• B)Denounces the agent's act.
• C)Authorises the agent's act in advance.
• D)Authorises the agent's act in writing.

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Definitions:

Number Of Shares

The total amount of shares of stock that a company has issued to shareholders, representing ownership in the corporation.

Class

A group of individuals or objects that share common characteristics or attributes.

Rule 10b-5

A regulation under the U.S. Securities Exchange Act that prohibits fraud, misrepresentation, and deceit in the sale of securities.

1933 Act

Officially known as the Securities Act of 1933, it's a U.S. law enacted to ensure transparency in financial statements so investors can make informed decisions about securities.