AgencyIntermediateDelaware Exam
What does 'ratification' mean in a Delaware real estate agency context?
AThe principal approves actions taken by the agent without prior authorizationCorrect
BThe agent acts within the scope of their expressed authority
CThe Commission approves the agency agreement
DBoth parties confirm the sales price in writing
Why The principal approves actions taken by the agent without prior authorization Is Correct
Answer A: The principal approves actions taken by the agent without prior authorization
Ratification occurs when a principal approves or confirms actions taken by an agent (or even an unauthorized person) without prior authorization, thereby adopting those actions as if they had been authorized in advance.
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
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