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 refers to the legal process by which a principal, in Connecticut, affirms or validates a contract that was initially executed by their agent on their behalf. This ratification by the principal gives the contract full legal effect as if they had personally entered into it from the beginning. In Connecticut, there are two primary types of ratification by principal of agent's execution of a contract: 1. Express Ratification: This refers to a clear and direct confirmation of the contract by the principal, either verbally or in writing. The principal explicitly states their intent to adopt the contract and agrees to be bound by its terms. Express ratification is the most straightforward and certain method of ratifying an agent's contract. 2. Implied Ratification: In some cases, a principal may ratify a contract implicitly through their actions or conduct. This occurs when the principal, with knowledge of the agent's contract negotiations or performance, accepts the benefits or stays silent without disapproving the agent's actions. The principal's subsequent conduct implies their intent to adopt the contract. Keywords: Connecticut, ratification, principal, agent, execution of contract, legal process, affirmation, validation, express ratification, implied ratification. It is important to note that ratification by the principal of an agent's execution of a contract involves several legal considerations. The principal must have full knowledge of the agent's actions at the time of ratification and must possess the legal capacity to enter into the contract themselves. Additionally, the agent must have had the authority to act on behalf of the principal when initially executing the contract. Connecticut's law recognizes ratification as a means to uphold the agency relationship and ensure fairness in contractual dealings. It allows principals to take advantage of valid contracts entered into by their agents, even if they were not personally involved in the negotiation or execution process. Ratification provides protection and stability in business transactions, ensuring that both parties can rely on the contract's enforceability. In conclusion, Connecticut Ratification by Principal of Agent's Execution of Contract is a legal mechanism that allows principals to affirm or validate contracts executed by their agents. It can be done through express ratification, where the principal explicitly confirms the contract, or through implied ratification, where the principal's actions imply their intent to adopt the contract. Understanding the various types of ratification is crucial for both principals and agents to navigate contractual agreements effectively.
