Agency
In Oregon, the concept of 'ratification' in agency law means:
AThe formal signing of an agency agreement
BA principal's approval of an agent's previously unauthorized act✓ Correct
CThe termination of an agency by mutual agreement
DA broker's delegation of duties to a sales associate
Explanation
Ratification occurs when a principal approves or affirms the unauthorized acts of a person who acted as their agent. Once ratified, the principal is bound by the agent's actions as if they had been authorized from the start.
Related Oregon Agency Questions
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