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1.The agent must purport to act as agent for a principal who is in contemplation and is identifiable at the time of contract.
2.The principal must be in existence at the time of contract.
3.The principal must have contractual capacity both at the time of the contract and at he time of ratification.
4.he principal must have the full knowledge of all the material facts.
5.Ratification must be done with in a reasonable time of the act purported to be ratified.
6.The act to be ratified must be lawful and not void or illegal or ultra vires in case of a company.
7. The whole transaction can be ratified.
8. Ratification must be communicated to the party who is sought to be bound by the act done by the agent.
9. Ratification can be of the acts which the principal had the power to do.
10. Ratification should not put a third party to damages.
11. Ratification relates back to the date of the act of the agent.
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What party names were given to those who favored ratification and to those who opposed ratification of the us constitution?
Ratification- Federalist Anti-ratification- anti-federalist
How is ratification important?
the ratification is important because it is a big part of the united states constitution and America
When as the ratification of the constitution signed?
The ratification of the constitution was signed on May 29, 1790. The ratification process had began three years earlier in Rhode Island.
Ratification of amendments to the Constitution is a power of the?
Ratification of amendments to the Constitution is a power of the?
Ratification can occur by one of two methods which one has only been used once?
Ratification by state convention has been used but one time as established by Article V of the United States Constitution. State ratification was employed for ratification of the 21st Amendment in 1933..
Agency by ratification is not agency at all.Discuss?
agency of ratification is agency because by ratification the principal acknowledges to take the liability of the contract since the time of the comenmence of the contract aldhough he was not aware of the contract. All the liabilities that could have been incurred by the agent are transferred to the Principal as if he was the one who entered into the contract. So long as the principal is given all the material fact, the contract remains valid even if he ratified it by means of implied terms.
Discuss agency by ratification and agency by necessity?
An agency relationship can be established in one of the Five ways: 1- Express Agreement 2- Implied Agreement 3- Agency by Necessity 4- Agency by Ratification 5- Agency by Estoppel Agency by Ratification: Effect of ratification is to backdate A's authority to act as an agent. This requires P's to: *have contractual capacity to make the contract *have been in existence both when the contract was made and at the date of ratification *be identified when the contract is made *be aware of all the material facts *clearly signify his intention to ratify the whole contract within a reasonable time A void of illegal contract cannot be ratified. Kelner v Baxter (1866) Agency by Estoppel: *This arises where P implies that A is his agent even though he's not *He is then prevented from denying As authority Freeman & Lockyer v Buckhurst Park Properties Ltd (1964)
Example case of agency by ratification?
an agent secures a contract on behalf of the principle and the principle agrees to it
What are the two elements of agency by ratification?
(1) intent to ratify and (2) knowledge of A's act
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What are the effects of ratification under the law?
agency of ratification is agency because by ratification the principal acknowledges to take the liability of the contract since the time of the comenmence of the contract Although he was not aware of the contract. All the liabilities that could have been incurred by the agent are transferred to the Principal as if he was the one who entered into the contract. So long as the principal is given all the material fact, the contract remains valid even if he ratified it by means of implied terms.Read more: Agency_by_ratification_is_not_agency_at_all.Discuss
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