Requirements or conditions for ratification
• The agent must have purported to act for a principal.
• The agent must have had a competent principal.
• The principal must have had capacity to enter into the transaction not only when the agent did so but when he ratifies the same as well.
• The principal must have been aware of the material facts affecting the contract.
• The transaction entered into the agent must be capable of ratification i.e. not illegal or void.
• The principal must ratify the contract in its entirety.
• The principle must ratify the transaction within a reasonable time.