Which of the following is not true about a corporation's ratification of an officer's act?
A) It applies to an authorized act of an officer.
B) It relates back to the original transaction.
C) It may be either express or implied from the corporation's acceptance of contractual benefits.
D) The corporation must have full knowledge of the facts in order to ratify the act.

Question

Quizplus · Accepted Answer

Ratification refers to the approval of an act that was initially unauthorized. Therefore, it does not apply to an act that was already authorized by the corporation. Choices B, C, and D describe correct aspects of ratification.

Which of the Following Is Not True About a Corporation's