For a Ratification to Be Effective, the Principal

question 21

Multiple Choice

For a ratification to be effective, the principal:

• A) must have knowledge of all material facts concerning the transaction.
• B) must communicate her intent to ratify to the third party.
• C) must have been in existence when the act was done.
• D) M ust have knowledge of all material facts concerning the transaction and  must have been in existence when the act was done.

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Definitions:

Rehearsal

The act of practicing or going over material repeatedly in order to learn and retain the information, typically used in reference to memorization or preparation for performances.

Iteration

The process of repeating a set of operations or a procedure, often with the aim of approaching a desired goal or result.

Redundancy

In the context of employment, it refers to the elimination of a job or position because it is no longer necessary, often leading to the termination of employment for those in those roles.

Estimation

The process of making an educated guess or calculation about a value, quantity, or outcome when exact data is not available.