Emergency Powers & Ratification

Emergency Powers

Arises when:

§ Agent should protect Principal.

§ Agent cannot communicate with Principal.

Ratification

1. Agent must act on behalf of Principal.

2. Principal must affirm entire deal.

3. Principal must affirm before 3rd party withdraws from transaction.

4. Principal and 3rd party must have legal capacity to contract when Agent made the deal.

5. Principals must know all the material facts involved in the transaction.