Discuss the concept of ratification and the ways in which a minor may ratify a contract. Give an example

Answer 1

Ratification may be express, implied from conduct, or be represented by the failure to make a timely disaffirmance. Ratification makes the contract binding from the beginning. Ratification, once effected, is final and cannot be withdrawn. The minor can ratify the contract only as a whole, both as to burdens and benefits. When a minor makes a contract to buy goods from an adult, the contract is voidable by the minor and the minor can escape liability. After reaching majority, if he/she promises to go through with the purchase because the contract has been expressly ratified, the promise is binding, and the adult can recover for breach upon failure to perform. A minor who has made a contract and then attains the age of majority may also ratify the contract by continuing to pay installments for a reasonable period of time or by merely failing to disaffirm after a reasonable period of time.