A Contract Entered into by an Agent Cannot Be Ratified

question 158

True/False

A contract entered into by an agent cannot be ratified inadvertently by the principal.

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Definitions:

Purchase Requisition

An official request or document that a company uses to inform the purchasing department of items it needs to order.

Legal Contract

A legally binding agreement between two or more parties that is enforceable by law.

Operations Management System

A framework or methodology designed to plan, control, and improve the processes that produce goods or services.

Elements

Fundamental components or parts that combine to form a whole, often referring to substances that cannot be broken down into simpler forms by chemical means.