A Principal's Intent to Ratify a Contract

question 21

Multiple Choice

A principal's intent to ratify a contract:

• A) can only be inferred by the agent's actions.
• B) may not be implied by his acts or failure to act.
• C) may be inferred by a court from the fact that the agent accepted the benefits of an unauthorized contract.
• D) may be inferred from the principal's failure to repudiate an unauthorized contract after becoming aware of it.

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Definitions:

Strike

A work stoppage caused by the mass refusal of employees to work, usually in protest against working conditions, pay or benefits.

Critical Time

A crucial or decisive point in time where the outcome of a process or event is determined.

Referent Power

A form of power that stems from being well-liked, admired, or respected, making others more likely to comply due to liking or identifying with the person in power.

Networking

The act of establishing and maintaining professional relationships or connections with others for mutual benefit.