Ratification and Adoption of Contracts Have the Same Effect;they Are

question 53

True/False

Ratification and adoption of contracts have the same effect;they are both retroactive and both release the purported agent.

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Definitions:

Labor Unions

Organizations formed by workers to protect their rights and interests through collective bargaining with employers.

Firm's Total Profit

The total income of a firm after subtracting all costs necessary to generate its revenue.

Firm's Total Profit

The total income of a firm after subtracting all costs from its total revenues.

Profit Maximizing

The process of adjusting production and sale levels to achieve the highest possible profit based on existing market conditions.