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1.The agent must purport to act as agent for a principal who is in contemplation and is identifiable at the time of contract.

2.The principal must be in existence at the time of contract.

3.The principal must have contractual capacity both at the time of the contract and at he time of ratification.

4.he principal must have the full knowledge of all the material facts.

5.Ratification must be done with in a reasonable time of the act purported to be ratified.

6.The act to be ratified must be lawful and not void or illegal or ultra vires in case of a company.

7. The whole transaction can be ratified.

8. Ratification must be communicated to the party who is sought to be bound by the act done by the agent.

9. Ratification can be of the acts which the principal had the power to do.

10. Ratification should not put a third party to damages.

11. Ratification relates back to the date of the act of the agent.

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Q: What are the requirements to create an agency by ratification?
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Agency by ratification is not agency at all.Discuss?

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