Ratification of a Contract by a Principal Releases the Agent

question 41

True/False

Ratification of a contract by a principal releases the agent from all liability to the third party.

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Definitions:

Construction Industry

The sector of the economy that deals with the construction, maintenance, and repair of buildings, roads, and other physical structures.

Privately Owned Businesses

Businesses that are owned by individuals or private companies and are not traded publicly on stock exchanges.

Entrepreneurship

The act of creating, managing, and scaling a business venture to generate profit while taking on financial risks.

Flexible

The ability to easily adapt to new, different, or changing requirements, conditions, or situations.