If a Principal Does Not Ratify an Unauthorized Contract,the Principal

question 10

True/False

If a principal does not ratify an unauthorized contract,the principal is not bound.

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Definitions:

Credit-Scoring Start-Up

A new business venture focused on developing algorithms or models to assess an individual's or business's creditworthiness.

Machine Learning

A type of artificial intelligence that enables software applications to become more accurate at predicting outcomes without being explicitly programmed for those outcomes.

Makes Loans

The act of providing funds to individuals or entities with the expectation that the funds will be paid back with interest.

Germany

A country in Central Europe known for its rich history, cultural heritage, and significant contributions to art, philosophy, science, and technology.