6.Ratification

a.is an agents approval of actions taken by his/her principal.

b.must be in writing.

c.is a principals approval of his/her agents unauthorized act.

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 third party.

b.has no liability.

c.is liable under the UCC if a reasonable person under similar circumstances 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 a third party by the principals agent acting within the scope of the agents authority.

b.an agent is answerable to his/her principal for the agents conduct.

c.an agent is held to a high standard of loyalty owed to his/her principal.

d.an agent is entitled to compensation from his/her principal unless the agency is expressed in writing to be gratuitous.