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Questions and Answers
What is the effect of ratification?
What is the effect of ratification?
- It invalidates the unauthorised act.
- It terminates the agency relationship.
- It requires the principal to pay damages to the third party.
- It authorises the previously unauthorised act and gives retrospective authority to the agent. (correct)
What is the doctrine that allows a third party to hold the principal liable in certain circumstances?
What is the doctrine that allows a third party to hold the principal liable in certain circumstances?
- Doctrine of implied authority
- Doctrine of ratification
- Doctrine of agency
- Doctrine of the undisclosed principal (correct)
What is one of the duties of the agent?
What is one of the duties of the agent?
- To delegate authority to the principal.
- To enter into contracts on their own behalf.
- To disclose confidential information to the principal.
- To act in accordance with the principal's instructions. (correct)
What is required for the doctrine of the undisclosed principal to apply?
What is required for the doctrine of the undisclosed principal to apply?
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What is one of the duties of the principal?
What is one of the duties of the principal?
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What type of authority is given 'after the fact' or ex post facto?
What type of authority is given 'after the fact' or ex post facto?
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What happens when the agent fails to disclose agency to the third party?
What happens when the agent fails to disclose agency to the third party?
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What is the duty of the agent to exercise?
What is the duty of the agent to exercise?
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What is one of the consequences of ratification?
What is one of the consequences of ratification?
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What is one of the principal's duties?
What is one of the principal's duties?
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