Lawrence Coal Co. v. Shanklin

Citations

• 25 N.M. 404
• 183 P. 435

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. A corporation may ratify an unauthorized agreement of another person, made in its behalf, and by such ratification become bound thereby. . P. 407</p> <p>2. The principal must ratify the whole of the agent’s unauthorized act, or not at all, and cannot accept its beneficial results, and at the same time avoid its burdens. P. 407</p> <p>3. Where for a sufficient consideration one agrees to assume and pay the debt of another, the creditor is impliedly included as within the privity of the promise, and he may single out the promisor and sue him by direct action. P. 407</p>