As the whole hypothesis upon which ratification is based is that the person ratifying is already in appearance the contractor1, the agent must not be purporting to act for himself, but must profess to be acting on behalf of a named or ascertainable principal, and one who is actually in existence at the time when the act subsequently ratified is done2.
A contract made by one professing to act on his own behalf, though at that time he has the undeclared intention
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