10 Questions
What is the effect of ratification?
It authorises the previously unauthorised act and gives retrospective authority to the agent.
What is the doctrine that allows a third party to hold the principal liable in certain circumstances?
Doctrine of the undisclosed principal
What is one of the duties of the agent?
To act in accordance with the principal's instructions.
What is required for the doctrine of the undisclosed principal to apply?
The agent must be authorised by the principal in advance and intend to contract on behalf of the principal, and must fail to disclose agency to the third party.
What is one of the duties of the principal?
To reimburse the agent for expenses properly incurred.
What type of authority is given 'after the fact' or ex post facto?
Ratification
What happens when the agent fails to disclose agency to the third party?
The doctrine of the undisclosed principal applies.
What is the duty of the agent to exercise?
Due care
What is one of the consequences of ratification?
The previously unauthorised act is authorised.
What is one of the principal's duties?
To reimburse the agent for expenses properly incurred.
This quiz covers the principles of agency law, including the relationship between principal and agent, types of authority, and establishing agency through ostensible authority.
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