The person who can ratify is the person in whose name or on whose behalf

He(principal) should have been in existence when the act was done

He(principal) should have been competant when the act was done

It is not necessary that the 3rd party knew the principal either by name or personally when the act was done. But the principal must be capable of being ascertained, at the time the act was done.

Full knowledge of the circumstances necessary to ratify, unless the Principal intended to ratify and take the risk, whatever the circumstances.

Ratification may be express or implied by conduct.

Ratification need not be in writing, except in the case of a deed.

Full knowledge of the circumstances necessary to ratify, unless the Principal intended to ratify and take the risk, whatever the circumstances.

Ratification must be within a reasonable time.

Ratification supplies the authority which the Agent lacked at the time he acted.

Ratification relates to the time of the unauthorized act

It creates rights and obligations between the Principal and the Third Party to the contract.

It releases the Agent from liability.

The Agent becomes entitled to his commission.

The authority conferred by Ratification is sometimes called Subsequent Authority, since such authority is conferred after the act is done.