Agency by ratification, Business Law and Ethics

Agency by Ratification

So then Agency by ratification can only arise whether:

  • The agent purported for act to a principal and one is
  • The alleged principal was in existence on the time the contract was formed: like; Natal Land Co. Ltd. v. Pauline Colliery Syndicate whether it was held such the purported ratification was ineffective while the company "ratifying" that had not been incorporated on the time the contract was formed there.
  • The principal had capacity for enter in the contract. so one is
  • The contract to be ratified is legitimate. Like example while a company cannot ratify a contract that is beyond the objects into its memorandum of association: like; Ashbury Rail Co. Ltd. v. Riche as orbiter dictum through Lord Cairns.
  • Although the person whose act is to be ratified professed for be the agent of the person seeking for adopt the contract. Therefore in other words an undisclosed principal such cannot ratify a contract also.
  • Although the alleged principal must have been made aware about all the material facts of the relevant transaction before than he decided to adopt the contract. Thus an apparent ratification that is induced through a partial disclosure of relevant facts into of no legal effect too.
  • However the contract ought to be ratified n the reasonable time

 

Posted Date: 1/22/2013 5:07:30 AM | Location : United States







Related Discussions:- Agency by ratification, Assignment Help, Ask Question on Agency by ratification, Get Answer, Expert's Help, Agency by ratification Discussions

Write discussion on Agency by ratification
Your posts are moderated
Related Questions
Advantages of Stare Decisis - Practicality In fact the case law method has enabled judges to adopt a practical approach for legal problems since those problems have arisen

Question 1: (a) What is "The Common Law"? (b) What are the virtues of the Common Law? Question 2: (a) Name the three facets of "the concept of justice". (b) E

Assets and liabilities of the company: Within 14 days of the making of the order for winding up a statement of affairs must be delivered to the liquidator (Official Receiver)

Incorporation  Osborne's "Concise Law Dictionary" defines incorporation as a "merging together to form a single whole; conferring legal personality upon an association of indi

I am Lauren Garcia, I have an order my assignment, please answer me back here Describe what parts of business law are involved in the following scenario. What issues are involve

Change of Name: A company's name may be changed voluntarily or compulsorily (a)   Voluntary Change A company's name may be changed voluntarily: i. Under s.2.1 if a sp

Pre-incorporation Contracts:                             A pre-incorporated contract is an agreement which is entered into, usually by a promoter or promoters, on behalf of a

Define the subordinate legislation briefly. Subordinate legislation: • Regulations: It directly applicable and self-executing, no require for member state to create own

Executed Consideration - Types of Consideration Actually Executed consideration is constituted through something done by the plaintiff because to a promise made with the defen

Article 5 - State Responsibilty Article 5. Acts of persons authorized by a state to act on their behalf then the state is responsible for the actions of that person. For exampl