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.
Oklahoma Ratification by Principal of Agent's Execution of Contract
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Fffd Agency by Ratification: A confirmation by the principal of an act or contract performed or entered into on his or her behalf by another, who assumed, without authority, to act as his or her agent.
By ratifying the action, the person signing becomes legally bound as though they had been the one to authorize the action in the first place. Ratifying a legal contract is retroactively enforced, binding the person who ratified it to the original contract date, not just the date it was ratified.
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.
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 President may form and negotiate, but the treaty must be advised and consented to by a two-thirds vote in the Senate. Only after the Senate approves the treaty can the President ratify it. Once it is ratified, it becomes binding on all the states under the Supremacy Clause.
The requisites of valid ratification are as follows: 1. The Principal should be in Existence. The agent must expressly contract an agent for a principal who is in existence and competent to contract. No body as an agent can bind by contract a principal who does not exist at the date of the contract.
In the context of contract law, a person ratifies a contract when they accept the benefit, thereby rendering the contract legally enforceable. This can include signing a formal contract, but conduct may also ratify a contract.
A person can ratify only that which is purported to have been done for him and cannot ratify that which is purported to have been done for somebody else. Act done by a person on his own account cannot be ratified. Only when an act is done on behalf of the ratifier, such act can be ratified.
Under Article V of the Constitution, there are two ways to propose and ratify amendments to the Constitution. To propose amendments, two-thirds of both houses of Congress can vote to propose an amendment, or two-thirds of the state legislatures can ask Congress to call a national convention to propose amendments.
A person can ratify only that which is purported to have been done for him and cannot ratify that which is purported to have been done for somebody else. Act done by a person on his own account cannot be ratified. Only when an act is done on behalf of the ratifier, such act can be ratified.
