Which of the Following Statements Is False with Regard to Ratification

question 25

Multiple Choice

Which of the following statements is false with regard to ratification in agency law?

• A)A principal cannot ratify a contract if he did not have the capacity to contract at the time the contract was made.
• B)A principal can ratify a contract inadvertently.
• C)If an agent exceeds her express authority,ratification is the only means by which the principal would be bound to honour the unauthorized contract.
• D)Ratification gives the agent authority retroactive to the time of contract.
• E)A principal cannot ratify a contract if at the time of the ratification he could not have entered into the contract.

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Definitions:

Narcissism

A personality trait characterized by an inflated sense of self-importance, a deep need for excessive attention and admiration, troubled relationships, and a lack of empathy for others.

Self-serving Bias

A common cognitive bias that causes individuals to attribute their successes to internal factors and their failures to external factors.

Defensive Self-esteem

A form of self-esteem characterized by a fragile sense of self that can easily be threatened and may lead to defensive or aggressive reactions.

Low Self-efficacy

The belief in one's inability to execute behaviors necessary to produce specific performance attainments.