Agency
What is 'ratification' in the context of agency law?
AThe written agreement creating an agency
BThe principal's approval of an agent's previously unauthorized act✓ Correct
CThe termination of the agency by mutual consent
DThe transfer of agency duties to a subagent
Explanation
Ratification occurs when a principal approves or accepts an act performed by someone without prior authority, effectively creating an agency relationship retroactively. Once ratified, the act is binding on the principal.
Related California Agency Questions
- In California, a real estate 'agent' as defined by the agency disclosure law refers to:
- In a typical California transaction, the selling broker (buyer's agent) is considered the agent of:
- Which fiduciary duty requires an agent to use the skills and knowledge expected of a competent real estate professional?
- Which of the following best describes an 'exclusive right to sell' listing in terms of agency?
- What must a buyer's agent disclose to their client about a property?
- In California, a 'designated agency' arrangement allows a broker to:
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- What is 'ratification' in agency law?
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