Agency
What is an 'agency by ratification' in Rhode Island real estate?
AAn agency created by written agreement
BAn agency created when a principal approves or affirms an unauthorized act that was done on their behalf✓ Correct
CAn agency required by the DBR
DAn agency that expires after ratification
Explanation
Agency by ratification occurs when a person affirms or approves an act done on their behalf without prior authorization. Once ratified, the principal is bound as if the agency had been created at the time of the original act.
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