For a ratification to be effective, the principal:
A) must have knowledge of all material facts concerning the transaction.
B) must communicate her intent to ratify to the third party.
C) must have been in existence when the act was done.
D) M ust have knowledge of all material facts concerning the transaction and must have been in existence when the act was done.

Question

For a ratification to be effective, the principal:
A) must have knowledge of all material facts concerning the transaction.
B) must communicate her intent to ratify to the third party.
C) must have been in existence when the act was done.
D) M ust have knowledge of all material facts concerning the transaction and  must have been in existence when the act was done.

Quizplus · Accepted Answer

For ratification to be effective, the principal must have been aware of all the material facts related to the transaction and must have existed at the time the act in question was performed. This ensures that the principal can make an informed decision to ratify the act and that the act was legally capable of being ratified at the time it was performed.

For a Ratification to Be Effective, the Principal