This lesson provides an introduction to the doctrine of ratification. The lesson will cover what ratification is, why the doctrine developed, what acts can be ratified, who can ratify, how ratification occurs, and what are the legal effects of ratification. The lesson will also introduce you (or reintroduce you) to the related doctrine of adoption.
On completion of the lesson, the student will be able to:
1. Define ratification.
2. Define the purpose of agency law.
3. Explain how ratification comes into play when the agent is not authorized and the third party wants to hold the principal liable for the agent's unauthorized act.
4. Analyze how ratification can only occur when the principal knows all the material facts at the time of ratification.
5. Discuss the doctrine of adoption and its similarity and difference from ratification.