In Contract Law Ratification Is the Act of Accepting

In contract law, ratification is the act of accepting a contract that was not originally binding. This can occur in a few different scenarios, such as when a contract is signed by someone who did not have the authority to bind the company or when a contract is signed under duress.

Ratification essentially means that the parties involved agree to be bound by the terms of the contract, even though it may have initially been invalid. Once a contract is ratified, it becomes legally enforceable and binding.

There are a few key elements to ratification. First, the party ratifying the contract must have knowledge of all the material facts and terms of the agreement. They must also have the capacity to enter into a contract and must do so voluntarily, without any coercion or undue influence.

Ratification can be either express or implied. Express ratification occurs when the ratifying party explicitly confirms the contract, either in writing or verbally. Implied ratification occurs when the ratifying party behaves in a way that indicates acceptance of the contract. This can occur when the party accepts the benefits of the contract, such as by making payments or performing services.

It`s important to note that ratification does not cure all defects in a contract. For example, if a contract violates a law or public policy, ratification will not make it enforceable. Additionally, ratification cannot be used to modify the terms of a contract – it can only confirm the existing terms.

In conclusion, ratification is an important concept in contract law that allows parties to accept a contract that was not originally binding. It requires knowledge of the terms, capacity to contract, and voluntary agreement. If you`re involved in a contract that may need ratification, it`s important to consult with a legal professional to ensure that it`s done properly and that all parties are protected.

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