Without prior permission, Quinn Brooks signs a small repair authorization on behalf of the owner. The owner later approves the act after learning all material facts. What has occurred?
Correct Answer
D) Ratification
Ratification is correct because the facts match the principal's acceptance and approval of an act that an agent performed without prior authority. That is the best description of the relationship, right, or legal concept tested here.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
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