Agency
In South Carolina, what is 'ratified agency'?
AAn agency created by express written agreement
BWhen a principal approves an unauthorized act by an agent after the fact, creating retroactive agency✓ Correct
CAn agency created by a state-issued license
DAn agency approved by SCREC
Explanation
Ratified agency occurs when a principal, after the fact, approves and accepts an unauthorized act performed by someone claiming to act as their agent. The ratification creates the agency relationship retroactively, binding the principal.
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