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Towards sustainable business relationships: ratification doctrine in the case of unauthorised agency

Author

Listed:
  • Vaidas Jurkevičius

    (Mykolas Romeris University, Lithuania)

  • Raimonda Bublienė

    (Mykolas Romeris University, Lithuania)

  • Raimonda Bublienė

    (Vilnius Gediminas Technical University (VILNIUS TECH), Lithuania)

Abstract

Each contemporary economic system is based on the principle of work sharing in creation and distribution of goods and services, the legal reflection of which is the institution of agency. In business, unauthorised agency, i.e. cases when an agent acts without having authority or exceeding it, is particularly often. Though the principal usually is not legally bound by actions of such an unauthorised agent, but in fact legal acts of each country provide for exceptions from this rule. One of them is the ratification doctrine, which means that the principal can ratify the agent’s unauthorised actions. This article analyses, by applying the comparative method, in what cases and under what procedure the ratification rule can be applied and what legal consequences it creates. A conclusion is made that the ratification doctrine is an efficient means of implementation of interests and defence of infringed rights not only of the principal, but also of other persons involved in the agency relationship, which should not be subject to any form requirements, especially in business relationships.

Suggested Citation

  • Vaidas Jurkevičius & Raimonda Bublienė & Raimonda Bublienė, 2017. "Towards sustainable business relationships: ratification doctrine in the case of unauthorised agency," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 5(1), pages 72-90, September.
    • Handle: RePEc:ssi:jouesi:v:5:y:2017:i:1:p:72-90
    DOI: 10.9770/jesi.2017.5.1(6)
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    References listed on IDEAS

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    1. Bisso, Juan Carlos & Choi, Albert H., 2008. "Optimal agency contracts: The effect of vicarious liability and judicial error," International Review of Law and Economics, Elsevier, vol. 28(3), pages 166-174, September.
    2. Sergejs Hilkevics & Aleksejs Hilkevics, 2017. "The comparative analysis of technology transfer models," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 4(4), pages 540-558, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    ratification doctrine; unauthorised agency; apparent authority; agent; falsus procurator; sustainable business;
    All these keywords.

    JEL classification:

    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
    • K20 - Law and Economics - - Regulation and Business Law - - - General

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