If a Principal Does Not Ratify an Authorized Contract, the Prin?cipal

question 16

True/False

If a principal does not ratify an authorized contract, the prin?cipal is not bound.

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Definitions:

Capital Gain

The profit from the sale of an asset or investment exceeding its purchase price, which is subject to taxation.

Ownership Interest

Refers to an individual's or entity's legal right to possess, use, and dispose of property or assets.

Adjusted Gross Income

Gross income after deductions and adjustments, important for tax calculations and eligibility for certain credits.

Sales

The total revenue generated from the selling of goods or services over a particular period.