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:

Withdraw

The process of withdrawing money from an account, investment, or deposit.

Interest

Interest is the charge for borrowing money, typically expressed as an annual percentage rate, representing compensation to the lender for the risk and opportunity cost of lending funds.

Growing Annuity

A series of cash flows that grow at a consistent rate over time, typically used in retirement or investment calculations.

Cash Flow Growth Rate

The rate at which a company's cash flow from operations grows over a specific period, reflecting its financial performance and stability.