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Rogue Brokers and the Limits of Agency Law
In: Forthcoming in Cambridge Handbook of Investor Protection (Arthur B. Laby, ed.)
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Whistleblowers: Implications for Corporate Governance
In: Washington University Law Review, Band 98
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Looking Beyond the Easel: Artists' Contexts and Resale Payment
In: Duke Journal of Gender Law & Policy, Band 27, Heft 1
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Fiduciary Duties on the Temporal Edges of Agency Relationships
In: Arthur B. Laby & Jacob Hall Russell, eds., Fiduciary Obligations in Business (Cambridge Univ. Press, Forthcoming)
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Ratification: Useful but Uneven
In: European Review of Private Law, Band 17, Heft 6, S. 987-1002
ISSN: 0928-9801
Ratification permits a principal to determine to be bound by the legal consequences of action taken by an agent after the fact of the agent's conduct when the principal would otherwise not be bound. By ratifying, a principal may clarify the effects of uncertainty, furnishing reassurance to the agent, the third party with whom the agent dealt, and other parties interested in the status of the transaction. However, at the point the principal decides whether to ratify, the principal knows facts not known to agent and third party at the time of the agent's unauthorized transaction, in particular subsequent developments in the market. The principal thus may be tempted to speculate at the expense of the third party, ratifying if the transaction seems then favourable to the principal and, if not, relying on the agent's lack of authority. This article is a comparative analysis of ratification doctrine within the systems covered by The Unauthorised Agent. Ratification doctrine is variable among these systems and, even within single systems, difficult to rationalize. The article argues that these doctrinal characteristics reflect tensions between two competing principles that underlie ratification – the necessity for the principal's consent and considerations of fairness to third parties – leading to variations in doctrinal specifics. Ratification's unevenness also reflects the complexity of consent within agency doctrine; system-by-system variations also stem from differences in the significance of ratification and the contexts in which the doctrine matters.
Ratification: Useful but Uneven
In: European Journal of Private Law, Band 17, Heft 6
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Transatlantic Perspectives on Partnership Law: Risk and Instability
In: The Governance of Close Corporations and Partnerships, S. 275-292
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Guests at the Table?: Independent Directors in Family-Influenced Public Companies
In: Journal of Corporation Law, Band 33, Heft 4
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