Which of the following is true regarding ratification in regard to the agency relationship?

Multiple Choice

• Ratification may occur only with respect to an act of an agent who has exceeded the authority given, not with respect to an act by someone who has not been appointed an agent at all.

• The effect of ratification negates implied authority.

• Ratification may be inferred by a court from the fact that the principal accepted the benefits of an unauthorized contract.

• Ratification may not be inferred by the principals failure to repudiate an unauthorized contract of which the principal becomes aware because the law does not force action in that type of circumstance.