Mastering Agency Law
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Questions and Answers

Which of the following is a requirement for an act to be considered unauthorized?

  • The act must not be recognized by law
  • The act must be legal
  • The act must be expressly authorized by the principal (correct)
  • The act must be recognized by law

    • What is a requirement for an agent to act as an agent for a principal?

  • The agent must have contractual capacity
  • The agent must have full knowledge of all material facts
  • The agent must have a principal who is existing and ascertainable (correct)
  • The agent must not allow the third party to believe that he is the principal

    • Under what circumstances can a principal ratify only part of a contract?

  • When the principal has full knowledge of all material facts
  • When the principal is not existing and ascertainable
  • When the principal would be subject to damages by ratifying the contract (correct)
  • When the principal does not have full knowledge of all material facts

    • What is a requirement for a principal to be able to ratify a contract?

    <p>The principal must have full knowledge of all material facts</p> Signup and view all the answers

    Under what circumstances is ratification not possible?

    <p>When the principal would be subject to damages by ratifying the contract</p> Signup and view all the answers

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