Agency
Ratification in agency law occurs when:
AA principal pre-authorizes all of an agent's actions
BA principal approves an unauthorized act performed by an agent after the fact✓ Correct
CAn agent acts within their express authority
DA court appoints an agent on behalf of an incompetent principal
Explanation
Ratification occurs when a principal, after the fact, approves and adopts an unauthorized act performed by an agent or by a person acting as if they were an agent. Once ratified, the act is treated as if it had been authorized from the beginning, and the principal becomes bound by it.
Related Illinois Agency Questions
- In Illinois, an agent may not purchase property listed with their firm for themselves or an immediate family member without:
- A broker who makes an error on a purchase contract (not intentional misrepresentation) may be liable for:
- An Illinois seller's agent discovers that the property has a water intrusion problem not disclosed on the property disclosure form. The agent must:
- What is 'constructive fraud' in the context of Illinois real estate agency?
- What is 'express agency' versus 'implied agency' in Illinois real estate?
- The duty of 'accounting' in an agency relationship requires a real estate agent to:
- A buyer's agent who negotiates a transaction is entitled to a commission from:
- What is an 'open listing' in Illinois real estate?
Practice More Illinois Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Illinois Quiz →