Private Law
In contract law, the need for ratification can arise in two ways: where the agent attempts to bind the principal despite lacking the authority to do so, and where the principal authorizes the agent to make an agreement, but reserves the right to approve it. An example of the first situation is where an employee not normally responsible for procuring supplies contracts to do so on the employer's behalf. The employer's choice on discovering the contract is to ratify it or to repudiate it.
The other situation is common in trade union collective bargaining agreements. The Union authorizes one or more people to negotiate and sign an agreement with management. A collective bargaining agreement can not become legally binding until the union members ratify the agreement. If they do not approve it, the agreement is of no effect, and negotiations resume.
Read more about this topic: Ratification
Famous quotes containing the words private and/or law:
“In all private quarrels the duller nature is triumphant by reason of dullness.”
—George Eliot [Mary Ann (or Marian)
“It will be seen that we contemplate a time when mans will shall be law to the physical world, and he shall no longer be deterred by such abstractions as time and space, height and depth, weight and hardness, but shall indeed be the lord of creation.”
—Henry David Thoreau (18171862)