Multiple Choice
Sharona entered into a contract with Deepak.Under the terms of that agreement,Deepak was obliged to sell his car for $25 000 to Myrna.Sharona subsequently asked Myrna to ratify the transaction and to actually pay the price to Deepak in exchange for the vehicle.Which of the following statements is TRUE?
A) Myrna can acquire the right to receive the vehicle,while leaving the obligation to pay the price on Sharona.
B) Myrna can ratify the contract if she has capacity at the time of ratification,even if she lacked a capacity at the time that the contract was made.
C) Myrna cannot ratify the contract even if Sharona said,at the time of creating the contract,that she was doing so on behalf of a person named Myrna.
D) If Myrna refuses to ratify the contract,Sharona cannot be held liable to Deepak on the contract as long as she said,before the contract was created,that she was acting as an agent for someone else.
E) Ratification can be effective only if Myrna expressly ratified the contract.
Correct Answer:

Verified
Correct Answer:
Verified
Q10: Silken is a producer of snowboards.She wants
Q12: Four people,who are not partners,buy and sell
Q14: Satinder is an employee of Bog Systems
Q16: Sureeya sells jewellery at her store premises.Sureeya
Q17: Grosjean is employed as a truck driver
Q18: You have started a new company that
Q19: Jeremy is a singer.For several months, he
Q20: Information Highway Inc enters into an agreement
Q29: The concept of "apparent authority" is also
Q34: Agency relationships arise in which of the