A Principal May Ratify an Action Taken by an Agent

question 27

True/False

A principal may ratify an action taken by an agent that the principal would not have been capable of authorizing at the time that the action was taken.

---

Definitions:

Queuing Situation

A scenario where entities wait in line for a service or resource, leading to analysis for efficient management of waiting times and service processes.

Arrival Behavior

The pattern or characteristics of entities (such as people, vehicles, or data packets) arriving at a service system or facility, crucial for designing service processes and managing queues.

Renege

The act of withdrawing from an agreement, commitment, or duty, often leading to a breach of contract.

Waiting-Line Models

Mathematical models used to analyze the processes involving waiting lines (or queues), aimed at improving service efficiency and minimizing waiting times.