Article 69 - Ratification

(1) An act by an Agent that acts without authority or exceeds his authority may be ratified by the Principal. On ratification the act produces the same effects as if it had initially been carried out with authority.
(2) The third party may by notice to the Principal specify a reasonable period of time for ratification. If the Principal does not ratify within that period of time he can no longer do so.
(3) If, at the time of the Agent's act, the third party neither knew nor ought to have known of the lack of authority, he may, at any time before ratification, by notice to the Principal indicate his refusal to become bound by a ratification.