- January 6, 2022 at 7:29 pm #645415Imran.SajjadMember
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What does this mean by that agency relationship is made retrospectively is referred to the agency by ratification?
What exactly is the agency relationship and what does it mean by ‘made retrospectively’?January 13, 2022 at 9:31 am #645824MikeLittleKeymaster
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Where any person (you or me, for example) enters into an arrangement with, say, Opentuition and claims to be an agent of, say, Boris Johnson Limited and then Boris takes a break from his Christmas non-lockdown-breaking party to be told of this arrangement, what does he do?
He can obviously deny any knowledge of the arrangement … but who would believe him?
Or he can say to himself ‘That’s not a bad deal that Mike (or Imran) has entered into apparently on behalf of BJ Limited – I think that BJ Limited should accept that deal even though Mike / Imran had no right to enter into that arrangement on my behalf
OR, if he denies it and tells ACCA that it’s nothing to do with BJ Limited, then you would then face the wrath of ACCA and be held personally liable to carry out any actions that you had hoped BJ Limited would otherwise have done (notice how I have now excluded myself from this possible action against you!)
BJ Limited’s acceptance is an act of retrospective approval of an agency agreement and constitutes an act of ratification
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