- This topic has 3 replies, 3 voices, and was last updated 9 years ago by
.
- Posts
the effect of ratification is to backdate Agent authority to act as agent what is this mean?
as ratification takes place when the agent properly appoint exceeds his authority or person having no authority purports to act as an agent please explain with example if able to do soI act as your agent, without any authority. You then find out what I have done on your behalf. “Hmm” you say “that’s not a bad deal that Mike has done on my behalf, even though I have never given him any authority. Nevertheless, I think I shall ratify his actions and, even though he had no authority, I’ll carry on as though he had”
OK?
please review my understanding, is it true or false ?
Sir, thanks alot.Implied authority = this is the assumption of third party according to their relationship or conduct or usual or custom between principle and agent
ostensible or appearance authority= this authority is due to the impression of principle to the agent and so third party is mislead
- You must be logged in to reply to this topic.