A Principal's Ratification Is

question 18

Multiple Choice

A principal's ratification is:

• A) an agent's acceptance of responsibility from the principal
• B) the principal's acceptance of responsibility for an agent's activities
• C) the principal's rejection of responsibility for an agent's activities
• D) the principal's acceptance of property from an agent
• E) an agent's acceptance of property from the principal

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Definitions:

Enforce

To compel observance of or obedience to a law, rule, or obligation.

Negotiated Clause

A provision in a contract that has been specifically discussed and agreed upon by all parties involved.

Usury Statutes

Laws that set maximum interest rates that lenders can charge borrowers.

Interest Rates

The cost of borrowing money expressed as a percentage of the sum borrowed, or the return earned on invested funds, often influencing economic activity and financial decisions.