What are the seven conditions for ratification to be created?

1 the agent must purport to act for a named or identifiable principal 2 the principal must have actually existed and been ascertainable at the time the contract was made 3 the principal must have the necessary capacity to make that contract 4 it must be timely 5 nullities cannot be ratified 6 the principal must have full knowledge of the facts 7 ratification can be created orally or written, but need not be communicated to the TP