In legal terms, to ratify means to formally approve, confirm, or adopt a legally binding agreement, contract, or action that was previously entered into or performed by another party. Ratification typically occurs when a person or entity, known as the principal, affirms or accepts the terms of an agreement that was made on their behalf by an agent or representative. By ratifying an agreement, the principal acknowledges and agrees to be bound by its terms, even if they were not directly involved in its negotiation or execution. Ratification may be expressed through written or verbal communication, or it may be implied through conduct that indicates acceptance of the agreement. Once ratified, the agreement becomes legally enforceable between the parties involved.
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This glossary post was last updated: 29th March, 2024.
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