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
Jonathan has been in the continuous employment of Dockland cleaning and laundry Co. Ltd since 1st August 2000. He is also a member and secretary of the Cleaning and Laundry Workers

writhe some stetment about morality of international context

Explain the term RECOGNITION RECOGNITION The term Recognition under international law means and involves the acceptance or acknowledgment of the existence by a State of an

Name the issue pertaining to state succession The first issue pertaining to state succession is treaties. The new state would have to embark upon with the treaties signed by th

QUESTION 1 (i) What are the principles applicable regarding the unjustified termination of a contract of employment (ii) What would be your views regarding the legal issues

Benefits of non-accepting shareholders: The minority whose shares are acquired compulsory under s.210 are entitled to all the benefits included in the original offer and accep

Deferred Debts - Disclaimer of assets: Deferred Debts: A debt owed to a member as member, i.e. an unpaid dividend, is a deferred debt paid only when ordinary debts have b

Directors Report: By S.157 (1) the balance sheet must have attached to it a directors' report on the company's affairs, including the amount, if any, which they recommend shou

Multiparty system and coalition We have already made conceptual excursion gaining impressions of the existence of multiple parties. Now, in this section we shall observe that h

Policy coordination Policy coordination occurs when countries agree to pursue policies intended to promote the welfare of all nations involved in the agreement. Spillover effe