Which of the Following Is Correct with Respect to the Ratification

question 162

Multiple Choice

Which of the following is correct with respect to the ratification of an agent's contracts?

• A) A principal can ratify a contract where the agent has gone beyond both his actual and apparent authority.
• B) A principal can only ratify an agreement entered into by an agent if his name has not been used.
• C) When a contract entered into by an agent is ratified by a principal, it commences at the time the principal ratifies the contract.
• D) The agent can set a time limit within which the ratification must take place.
• E) A contract can only be ratified if the principal was not able to enter into the contract himself at the time of ratification.

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Definitions:

Null Hypothesis

A hypothesis that suggests no statistical significance exists in a set of given observations, implying no effect or relationship between variables.

Population Means

The average value of a particular variable across the entire population of interest.

Inferential Statistics

Statistical methods that allow researchers to make inferences or predictions about a population based on a sample.

Starting Salaries

The initial amount of money an individual earns when beginning a new job position.