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Agency Law and Authority

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Questions and Answers

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?

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?

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?

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. Signup and view all the answers

What is one of the duties of the principal?

To reimburse the agent for expenses properly incurred. Signup and view all the answers

What type of authority is given 'after the fact' or ex post facto?

Ratification Signup and view all the answers

What happens when the agent fails to disclose agency to the third party?

The doctrine of the undisclosed principal applies. Signup and view all the answers

What is the duty of the agent to exercise?

Due care Signup and view all the answers

What is one of the consequences of ratification?

The previously unauthorised act is authorised. Signup and view all the answers

What is one of the principal's duties?