When the insurance company accepts the actions of an agent, this ratifies the act, making the company liable for consequences that may occur.
Related information about agency by ratification:
- Agency by Ratification - Financial Dictionary - The Free Dictionary
A situation in which a person or company inaccurately claims to be an agent for another person or company and conducts some act in that capacity, but which ...
- What is agency by ratification? - BusinessDictionary.com
Definition of agency by ratification: Agency relationship created when a principal confirms and accepts a purported agent's unauthorized act.
- Agency By Ratification: Definition from Answers.com
Agency By Ratification Confirmation by an insurance company of the acts of its agent , regardless of whether or not these acts were committed within the.
- What is agency by ratification? - InvestorWords.com
Definition of agency by ratification: When the insurance company accepts the actions of an agent, this ratifies the act, making the company liable for ...
- AGENCY - New York University School of Law
e) Agency by Ratification. i) Rest. 82: Ratification is “the affirmance by a person of a prior act which did not bind him but which was done or professedly done on ...
- Ratification in Agency Without Knowledge of Material Fact
agency by ratification. But, as indicated heretofore, there is no ground for its appearance, and as a matter of fact it does not so appear in the decisions. In all the ...
- What is AGENCY BY RATIFICATION? - The Law Dictionary
Definition of AGENCY BY RATIFICATION: When an agent is chosen by accepting their unauthorized acts.
- (3) Formation of agency
Agency by ratification arises when a person (the principal) ratifies (that is, approves and adopts) an act which has already been done in his name and on his ...