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:
“The new sound-sphere is global. It ripples at great speed across languages, ideologies, frontiers and races.... The economics of this musical esperanto is staggering. Rock and pop breed concentric worlds of fashion, setting and life-style. Popular music has brought with it sociologies of private and public manner, of group solidarity. The politics of Eden come loud.”
—George Steiner (b. 1929)
“I consider, then, the power to annul a law of the United States, assumed by one state, incompatible with the existence of the Union, contradicted expressly by the letter of the Constitution, unauthorized by its spirit, inconsistent with every principle on which it was founded, and destructive of the great object for which it was formed.”
—Andrew Jackson (17671845)