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PROPOSED FINAL DRAFT, QUESTIONS SUGGESTED FOR DISC. 1 (May 4-6, 1933)

handle is hein.ali/relagcy0082 and id is 1 raw text is: The American Law Institute AGENCY PROPOSED FINAL DRAFT Questions Suggested for Discussion at Eleventh Annual Meeting May 4-6, 1933 Discussion is not confined to the questions pre- sented here. In view of the limited time for discussion; however, those attending the meeting should come pre- pared to ask specific questions or to raise specific points. § 8 (Part II). Apparent authority (definition of). The definition of apparent authority'has been changed from that of the Tentative Draft. The reasons for the change are given in the Special Note appended to the Section. § 89 (Part II). Change in Situation (as affecting the Possibility of Ratification). Changed from the statement in Tentative Draft, No. 1, for the reasons given in the Special Note. Special attention is called to Illustrations 2 and 3. It is recog- nized that the weight of judicial authority is to the effect that even after knowledge of loss, an insured may ratify an insurance policy taken out on his account without his authority. There is, however, some au- thority to the effect that if the premium has not been paid and if the insurance company does not know that the original act was unauthorized, there can be no ratification after knowledge of the loss. It is believed that this represents a view consistent with the equita- ble view of ratification involved in this Section.