6.Ratification a.is an agent’s approval of actions taken by his/her principal. b.must be in writing. c.is a principal’s approval...

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Accounting

6.Ratification
a.is an agent’s approval of actions taken by his/herprincipal.
b.must be in writing.
c.is a principal’s approval of his/her agent’s unauthorizedact.
d.must be made within a reasonable time to be effective.
7.An undisclosed principal
a.is bound to any contract made by his/her agent with a thirdparty.
b.has no liability.
c.is liable under the UCC if a reasonable person under similarcircumstances would find him or her liable.
d.may be subject to punitive damages for fraud.
8.Under the principle of respondeat superior.
a.a principal is vicariously liable for any harm caused to athird party by the principal’s agent acting within the scope of theagent’s authority.
b.an agent is answerable to his/her principal for the agent’sconduct.
c.an agent is held to a high standard of loyalty owed to his/herprincipal.
d.an agent is entitled to compensation from his/her principalunless the agency is expressed in writing to be gratuitous.

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6.Ratificationa.is an agent’s approval of actions taken by his/herprincipal.b.must be in writing.c.is a principal’s approval of his/her agent’s unauthorizedact.d.must be made within a reasonable time to be effective.7.An undisclosed principala.is bound to any contract made by his/her agent with a thirdparty.b.has no liability.c.is liable under the UCC if a reasonable person under similarcircumstances would find him or her liable.d.may be subject to punitive damages for fraud.8.Under the principle of respondeat superior.a.a principal is vicariously liable for any harm caused to athird party by the principal’s agent acting within the scope of theagent’s authority.b.an agent is answerable to his/her principal for the agent’sconduct.c.an agent is held to a high standard of loyalty owed to his/herprincipal.d.an agent is entitled to compensation from his/her principalunless the agency is expressed in writing to be gratuitous.