Can a corporation be bound by a contract entered into by an agent without actual or apparent authority where the principal later ratifies it?

20. A corporation may be bound by a contract entered into by an agent without actual or apparent authority where the principal later ratifies it. A principal can ratify a contract through an action, or depending on the circumstances, by acquiescence or inactivity. The test for ratification requires: a) the agent purported to act for the principal; b) the agent had a competent principal; c) the principal was legally capable of doing the act themselves at the time of ratification: Community Savings v. United Assoc. of Journeymen et al. 2002 BCCA 214.