Ratification where the principal adopts an unauthorized act of his agent as his own. What are the conditions which must be fulfilled for ratification to be effective?

(b) 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 by 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.