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    Which of the following statements is correct about ratification?

    Options :-

    1. It allows a principal to accept the acts of an agent after a contract has been negotiated for which the agent lacked authority.
    2. It occurs when the agent negotiates a contract on a principal's behalf.
    3. It allows the correction of an incorrect term of a contract.
    4. It means that the agent and not the principal is responsible for the contract.
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