“Agency” generally refers to one person, an agent, acting on behalf of another, a principal. Ratification is when one approves a contract or transaction after the fact, even though it may have been void or voidable at the time it was originally contemplated or executed. Ratification in the context of agency is the express/implied adoption…
Legal Articles
Consent/Ratification to Breach of Trust, Minors
Under certain circumstances, a trust beneficiary can consent to a trustee’s conduct that would otherwise constitute a breach of fiduciary duty. For a consent to be proper, the beneficiary must know of all material facts relating to the breach. Section 456.10-1009(2), RSMo. Missouri law, furthermore, imposes specific limitations on consent or ratification on behalf of…
Contract Under Duress, Ratification
A contract may be invalid if it is created under duress. Indeed, depending on the facts, duress can serve as an affirmative defense to a breach of contract claim. In Missouri, the question of whether duress played a part in the execution of a contract is a case-by-case inquiry. State ex rel. State Highway Commission v….
Contract Ratification
Only a party to a contract is bound by the contract’s terms and conditions; therefore, non-parties cannot be held liable for breach of contract. Kahn v. Prahl, 414 S.W.2d 269, 278 (Mo. 1967); Landstar Investments II, Inc. v. Spears, 257 S.W.3d 630, 632 (Mo. Ct. App. 2008) (“a contract generally binds no one but the parties thereto,…
Trust Beneficiary Consent, Release, Ratification
A breach of trust is a violation by a trustee of a duty the trustee owes to a beneficiary. See Section 456.10-1001.1, RSMo. In serious cases, a breach of trust can warrant a removal of the trustee or a monetary suit for legal damages. A breach of trust, however, can be cured through beneficiary consent, release…