BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When you accept the contract completely it is known as ____
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Acceptance
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Rescission
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Ratification
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Explanation:
Detailed explanation-1: -In the context of contract law, a person ratifies a contract when they accept the benefit, thereby rendering the contract legally enforceable. This can include signing a formal contract, but conduct may also ratify a contract.
Detailed explanation-2: -Ratification: approval of agreement by the state After approval has been granted under a state’s own internal procedures, it will notify the other parties that they consent to be bound by the treaty. This is called ratification. The treaty is now officially binding on the state.
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