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Agency law

This topic has 2 replies, 2 voices, and was last updated 7 years ago by MikeLittle.

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December 29, 2017 at 2:57 pm #426739
iyamu
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In agency law, a principal may ratify a contract made by an agent retrospectively . What does this means?
December 29, 2017 at 3:00 pm #426740
iyamu
Participant
- Topics: 286
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But a company can never ratify a contract made in its behalf before it was incorporated.
Is the company not in the same position as the principal ? Does this differentiate between agency law and company law?
December 29, 2017 at 3:29 pm #426750
MikeLittle
Keymaster
- Topics: 27
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“Does this differentiate between agency law and company law?”
No! You cannot be an agent of something that doesn’t exist in law
As the judge said “It’s like trying to buy hay on behalf of your horse and claiming that the horse is liable”
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