120. Which of the following contracts cannot be ratified?

Study for the Supernova Regulatory Framework for Business Transactions Test. Use flashcards and multiple choice questions. Each question has hints and explanations. Get prepared for your exam!

Multiple Choice

120. Which of the following contracts cannot be ratified?

Explanation:
Ratification validates a contract by affirming it after the fact, but it only makes sense if there is a real subject matter and a possible performance at the time the contract was formed. If the cause or object of the contract did not exist when the transaction happened, there is nothing for the parties to bind, and nothing to ratify. No later consent can conjure up an object or purpose that never existed, so that type of contract cannot be ratified. The other scenarios can involve ratification in some form: contracts where consent was initially defective can become binding if valid consent is given later; unauthorised acts can be approved by the principal to become enforceable; and some contracts not meeting formal requirements can still be ratified to achieve enforceability. But when the object itself doesn’t exist, ratification isn’t possible.

Ratification validates a contract by affirming it after the fact, but it only makes sense if there is a real subject matter and a possible performance at the time the contract was formed. If the cause or object of the contract did not exist when the transaction happened, there is nothing for the parties to bind, and nothing to ratify. No later consent can conjure up an object or purpose that never existed, so that type of contract cannot be ratified.

The other scenarios can involve ratification in some form: contracts where consent was initially defective can become binding if valid consent is given later; unauthorised acts can be approved by the principal to become enforceable; and some contracts not meeting formal requirements can still be ratified to achieve enforceability. But when the object itself doesn’t exist, ratification isn’t possible.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy