Commercial Law: yes or no: if the agent makes a contract with the third party, which is yet to be ratified by the principal, and the TP decides to withdraw, is the contract still valid? (ratification)

Question

yes or no: if the agent makes a contract with the third party, which is yet to be ratified by the principal, and the TP decides to withdraw, is the contract still valid? (ratification)

Kuba Pastula · Accepted Answer

yes, the third party will still be bound by the contract made. this is due to the TP agreeing to deal with the principal, but they have yet to have accepted it
> Bolton v Lambert

Commercial Law

Yes or no: if the agent makes a contract with the third party, which is yet to be ratified by the principal, and the TP decides to withdraw, is the contract still valid? (ratification)

Yes, the third party will still be bound by the contract made. this is due to the TP agreeing to deal with the principal, but they have yet to have accepted it > Bolton v Lambert

Author