Which of the Following Is Correct with Respect to the Ratification

question 21

Multiple Choice

Which of the following is correct with respect to the ratification of an agent's contracts?

• A)A principal can ratify a contract where the agent has gone beyond both his or her actual and apparent authority.
• B)A contract can only be ratified if the principal was not able to enter into the contract himself at the time of ratification.
• C)Ratification is always an intentional act and must be performed by the principal.
• D)When a contract entered into by an agent is ratified by a principal,it commences at the time the principal ratifies the contract.
• E)A principal can only ratify an agreement entered into by an agent if his or her name has not been used.

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Definitions:

Threats and Opportunities

Refers to external factors that could impact a company's performance, where threats could harm it, and opportunities could benefit it.

Core Competencies

The unique strengths or strategic advantages of a business, comprising knowledge, resources, and capabilities that distinguish it in the marketplace.

Competitive Advantages

Unique attributes or capabilities that allow a company to outperform rivals, create greater value for its customers, and achieve superior market position.

Straddling

A strategy where a company seeks to occupy more than one position in a market or industry, often attempting to offer a range of products or services to cover different segments.