Which of the Following Is Untrue About a Corporation's Ratification

question 45

Multiple Choice

Which of the following is untrue about a corporation's ratification of an act of an officer?

• A) It applies to an authorized act of an officer.
• B) It relates back to the original transaction.
• C) It may be either express or implied from the corporation's acceptance of the contract's benefits.
• D) The corporation must have full knowledge of the facts in order to ratify the act.

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Definitions:

Principal Duties

are the main responsibilities or tasks that an individual or entity is expected to perform as part of a job role or contractual agreement.

Agent Duties

Responsibilities of an agent to act in the best interest of the principal, including duties of loyalty, care, and to disclose material information.

Contract Remedies

Legal solutions available to a party under a contract when the other party fails to perform as promised.

Tort Remedies

Legal solutions or compensations available to individuals who have suffered harm due to another's wrongful actions.