Agency
Under Louisiana agency law, 'ratification' occurs when:
AA principal terminates an agent's authority
BA principal approves or confirms an act that was done without prior authorization, making it binding✓ Correct
CAn agent exceeds their authority in an emergency
DThe LREC approves an agency agreement
Explanation
Ratification occurs when a principal, with knowledge of all material facts, approves an act that an agent performed without prior authorization. The effect is as if the principal had authorized the act from the beginning.
Related Louisiana Agency Questions
- An agent who discloses the seller's minimum acceptable price to the buyer without authorization has violated which fiduciary duty?
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