Which of the Following Is True of Ratification by the Principal

question 11

Multiple Choice

Which of the following is true of ratification by the principal?

• A)It can only occur prior to the actions of the agent.
• B)It is a voluntary act by the principal.
• C)It discharges the principal of liability for the agent's actions.
• D)It requires the usual consideration of contract law.
• E)It must be made in writing to be effective.

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Definitions:

Vertical Merger

A merger between two companies that operate at different levels within the industry's supply chain.

Cloth

A flexible material made by weaving, knitting, crocheting, or bonding fibers together, used for making garments, furnishings, or other products.

Cotton

A natural fiber and cash crop that is used to produce textiles, clothing, and other products.

Relevant Geographic Market

The area in which a company operates and competes for customers, defined by where its customers are located and where it faces competitive pressures.