Agency
What is 'ratification' as it applies to agency?
AThe DRE approving a new agent
BA principal accepting and confirming an unauthorized act of an agent after the fact✓ Correct
CA broker renewing an agent's license
DThe seller accepting a purchase offer
Explanation
Ratification occurs when a principal retroactively approves or accepts an unauthorized act performed by a person acting as their agent. After ratification, the agency relationship is treated as if it had existed from the beginning.
Related California Agency Questions
- When does a real estate salesperson owe duties to someone who is NOT their client?
- What is 'ratification' in agency law?
- A dual agent represents:
- An agent's duty to account means:
- Which type of agency relationship is created when a principal approves an act already performed without prior authorization?
- Which of the following would automatically terminate an agency relationship in California?
- Which type of listing agreement gives the broker the most protection and guarantees a commission regardless of who sells the property?
- A listing agreement is a contract between:
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