Agency is a relationship based on an agreement authorizing one person, the agent, to act for another, the principal. For example an agent may negotiate and make contracts with third persons on behalf of the principal. If an agent tries to do an act for his principal that he is not specifically authorized to do, the principal has the choice of ignoring the transaction or ratifying it. Generally, even an unauthorized act may be ratified.
Connecticut Ratification by Principal of Agent's Execution of Contract
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How to fill out Ratification By Principal Of Agent's Execution Of Contract?
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FAQ
Liability of an agent Situations where the agent can be held liable include: When it is not sufficiently clear that the 'agent' is acting as the agent. Where it is undisclosed or not sufficiently clear the third party can choose to enforce the contract on either the principal or the agent.
The principal is liable on an agent's contract only if the agent was authorized by the principal to make the contract. Such authority is express, implied, or apparent.
An agent is not generally liable for contracts made; the principal is liable. But the agent will be liable if he is undisclosed or partially disclosed, if the agent lacks authority or exceeds it, or, of course, if the agent entered into the contract in a personal capacity.
Principal's liability for acts of agent A principal is normally liable for all acts of an agent within the agent's authority, whether responsibility arises in contract or in tort. Authority means the agent's actual, apparent (ostensible) or usual (customary) authority.
When the agent acts for a principal who cannot be sued : An agent incurs personal liability when he contracts on behalf of a principal who, though disclosed, cannot be sued. Thus, an agent who contacts for an ambassador or foreign sovereign, becomes personally liable.
To ratify, the principal may tell the parties concerned or by his conduct manifest that he is willing to accept the results as though the act were authorized. Or by his silence he may find under certain circumstances that he has ratified. Note that ratification does not require the usual consideration of contract law.
Essentials of a valid ratificationFor the act to be ratified, it is necessary that the same has been done on behalf of the Principal. If an agent acts for another or for himself, this cannot be ratified by the Principal. The principal must have been in existence at the time of contract.
The principal must have been in existence at the time that the agent entered into the contract. In the case of agents acting for future companies which are planned or being formed but are not yet formed this condition is not satisfied and ratification is not possible.
(Sec-196 to Sec- 200) Meaning-Ratification means approval of acts already done. When some person does some acts on behalf of another person without his knowledge or authority and such other person subsequently ratifies the acts done on his behalf.
The doctrine of ratification is concerned with acts performed without authority by an agent in the name of a principal. In short, ratification occurs whenever the ratifying party clearly manifests that he has adopted the unauthorized transaction effected by his agent purportedly on his behalf.
