Sea Emerald v Prominvestbank 
- A bank’s agent provided a refund guarantee on payments of $20 million of the construction of a ship
- Did the agent have authority to provide the guarantee, was it ratified?
- No, no
- No apparent or actual authority
- Ratification is the unilateral manifestation of will following adequate knowledge of the unauthorised act, of which there was insufficient evidence
Posted in Commercial Law Revision Notes.
This page was last updated on 31st December 2014