Which of the Following Is Untrue About a Corporation's Ratification

question 45

Multiple Choice

Which of the following is untrue about a corporation's ratification of an act of an officer?

• A) It applies to an authorized act of an officer.
• B) It relates back to the original transaction.
• C) It may be either express or implied from the corporation's acceptance of the contract's benefits.
• D) The corporation must have full knowledge of the facts in order to ratify the act.

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Definitions:

Tort Law

The area of law that deals with civil wrongs, providing remedies to individuals harmed by others' actions or failures to act.

Ethical Principles

Fundamental guidelines in ethics that inform and guide moral conduct in various fields and situations.

Ethical Codes

A set of guidelines designed to set out acceptable behaviors for members of a particular group, organization, or profession.

Dilemma

A dilemma is a situation requiring a choice between two equally undesirable alternatives or posing a difficult problem seemingly without a satisfactory solution.