1. Discuss the effects of ratification in voidable contracts.

(20 points)
The term ratification describes the act of making something officially valid
by signing it or otherwise giving it formal consen t, like seals the deal, and
makes the document legally binding. It is also the procedure to correct a
voidable contract and requires all parties to the contract to negotiate new
terms that eliminate the issue that made it voidable. In addition it can also
cleansed of its defects from its constitution or establishment, and the
validation is retroactive to the day of its creation and extinguish the action for
annulment of a voidable contract. For example, if Leni was unable to legally
sign a contract because she was underage, the contract can be ratified when
she turns 18. If one or both parties no longer wishes to be bound by
the contract, it can be voided on the grounds that one party could not legally
sign.