Before a Principal Can Ratify a Contract, the Principal Must

question 15

True/False

Before a principal can ratify a contract, the principal must know all of the material facts involved in the deal.

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Definitions:

Economic Statement

A declaration or report that provides information regarding the financial performance or economic conditions of an entity, sector, or economy.

Minimum Wage

The lowest legal hourly pay for workers, as established by law.

Way Of Thinking

A perspective or method of approaching problems and making decisions based on certain principles, values, or assumptions.

Macroeconomics

The branch of economics that studies how the aggregate economy behaves, focusing on indicators like GDP, unemployment rates, and inflation.