Implied ratification usually occurs when:
a. the principal refuses to accept the benefits of the agreement b. the principal accepts the benefits of the agreement
c. the agent accepts the benefits of the agreement d. a court processes the power of attorney
e. none of the other choices are correct
c
You might also like to view...
Which of the following is true of the World Trade Organization (WTO)?
A) It was replaced by the GATT in 1995. B) It increases tariffs and other international trade barriers. C) It lacks the power to impose international trade sanctions. D) It restricts the maximum number of member nations to 100. E) It mediates global trade disputes.
A good risk management plan will contain which of these elements?
A) the project manager's tolerance level for risk B) the number of acceptable outcomes C) a prediction of the impact of each risk on the project D) the number of unacceptable outcomes
When products in an industry are relatively homogeneous and price is a key purchase consideration,
A. competition-based pricing becomes more important. B. demand-based pricing dominates pricing decisions. C. firms tend to use secondary-market pricing. D. cost-based methods like markup pricing are dominant. E. customary pricing is often used.
HomeCraft makes wooden play sets. The company pays annual rent of $400,000 per year and pays
administrative salaries totaling $150,000 per year. Each play set requires $400 of wood, ten hours of labor at $70 per hour, and variable overhead costs of $100. Fixed advertising expenses equal $100,000 per year. Each play set sells for $3,200. What is HomeCraft's break-even output level? A) 340 play sets B) 325 play sets C) 258 play sets D) 297 play sets