Agency is a relationship based on an agreement authorizing one person, the agent, to act for another, the principal. For example an agent may negotiate and make contracts with third persons on behalf of the principal. If an agent tries to do an act for his principal that he is not specifically authorized to do, the principal has the choice of ignoring the transaction or ratifying it. Generally, even an unauthorized act may be ratified.
Minneapolis Minnesota Ratification by Principal of Agent's Execution of Contract
Category:
State:
Multi-State
City:
Minneapolis
Control #:
US-01439BG
Format:
Word;
Rich Text
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