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Agency by ratification

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Agency by ratification

  • This topic has 1 reply, 2 voices, and was last updated 14 years ago by MikeLittle.
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  • November 23, 2010 at 6:45 pm #46177
    kovik27
    Member
    • Topics: 2
    • Replies: 17
    • ☆

    I am learning from the BPP books about the agency by ratification but I am stuck on that point.

    Dear tutor, can you please explain to me, what it is all about?

    Thanks

    November 23, 2010 at 9:51 pm #71312
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    Agent acts beyond his authority. Principal MAY choose to adopt the contract entered into by the unauthorised agent. So principal ratifies the contract. Even if principal doesn’t consciously intend to ratify, if p’s later actions are in line with ( unauthorised ) agent’s promises, then Prin has ratified

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