An effective ratification places all the parties in a position similar to that which they would have occupied at the material time if the agent had had actual authority to perform the acts ratified. This is expressed by the maxim omnis ratihabitio retrotrahitur et mandato priori aequiparatur1.
Where a contract is ratified, provided that ratification can also be seen to constitute a waiver by the principal of his rights against the agent for his breach of duty2, the agent is relieved from personal liability to his principal for acting in excess of his authority3, and may recover his commission and
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