Only the Entire Act of the Agent Can Be Ratified;

question 2

True/False

Only the entire act of the agent can be ratified; the principal may not ratify what is beneficial and deny what is burdensome.

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Definitions:

Define

to explain the meaning of a word or phrase.

Annual Interest

The amount of interest due per year as a percentage of the amount loaned, deposited, or borrowed.

Vacation Fund

A savings account or financial allocation specifically set aside for personal vacation and travel expenses.

Quarter

A three-month period in a fiscal year used as a basis for financial reporting, planning, and performance assessment.