Ratification Occurs When a Principal Affirms, or Accepts Responsibility For

question 5

True/False

Ratification occurs when a principal affirms, or accepts responsibility for, an agent's unauthorized act.

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Definitions:

Death Of Corporation

The termination of a corporation's legal existence, either by voluntary dissolution or through legal action.

Rehabilitation

The process of restoring someone to health or normal life through training and therapy after imprisonment, addiction, or illness.

Stock Certificates

Physical documents that represent ownership in a company, indicating the number of shares held.

Ownership

The legal right or title to possess and use property, either tangible or intangible, with the freedom to control, enjoy, and dispose of it.