QUESTION: Sir John, I have a neighbor in Quezon City who is selling his house and lot. I saw the signboard, and without authority to become agent of the seller, I offered it to my uncle in USA. My uncle is interested. What will I do to try get a commission from it?
ANSWER: You are now doing what is technically called "Ratification" tactics. RATIFICATION is one way of how an agency relationship is created. It means that if a person having no authority whatsoever purports to act as an agent and the purported principal later adopts the acts of that agent, an agency relationship has retroactively been created.
12/06/2011
What is ratification
QUESTION: Sir John, I have a neighbor in Quezon City who is selling his house and lot. I saw the signboard, and without authority to become agent of the seller, I offered it to my uncle in USA. My uncle is interested. What will I do to try get a commission from it?
ANSWER: You are now doing what is technically called "Ratification" tactics. RATIFICATION is one way of how an agency relationship is created. It means that if a person having no authority whatsoever purports to act as an agent and the purported principal later adopts the acts of that agent, an agency relationship has retroactively been created.
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