Law · Agency Law
Separation of powers and agency logic often overlap in business formations. In the context of establishing an agency relationship, which of the following conditions must be met for a principal to validly ratify the prior unauthorized acts of an agent?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The principal may choose to ratify only the beneficial portions of the contract.
- 2The agent must have acted without identifying the principal to the third party.
- 3The principal must communicate ratification to the third party immediately.
- 4The principal must have existed and had legal capacity at the time the contract was formed.✓
Correct answer
The principal must have existed and had legal capacity at the time the contract was formed.
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