A contract made by an agent of a corporation in excess of his authority, may be ratified by some higher agent who has authority to make such a contract.1 Thus the stockholders of a corporation at a lawful meeting, may ratify the acts of the board of directors in excess of their authority.2 The directors may ratify the acts of some inferior agent of the corporation.3 Ratification has substantially the same meaning in this branch of the law as in the ordinary law of agency.

5 Breed v. Bank, 4 Colo. 481.

6 Trent v. Sherlock, 26 Mont. 85; 66 Pac. 700.

7 King v. Mfg. Co., 183 Mass. 301; 67 N. E. 330; Spelman v. Milling Co., 26 Mont. 76; 91 Am. St. Rep. 402; 55 L. R. A. 640; 66 Pac. 597.

8 Holmes v. McAllister, 123 Mich. 493; 48 L. R. A. 396; 82 N. W. 220.

9 Godshaw v. Struck, 109 Ky. 285; 51 L. R. A. 668; 58 S. W. 781.

10 Arkansas, etc., Co. v. Lough-ridge, 65 Ark. 300; 45 S. W. 907; Indianapolis, etc., Co. v. Morris, 67

111. 295; Terre Haute, etc., Co. v. McMurray, 98 Ind. 358; 49 Am. Rep. 752; Terre Haute, etc., Co. v. Stockwell, 118 Ind. 98; 20 N. E. 650. Contra, Sevier v. Ry. Co., 92 Ala. 258; 9 So. 405; Tucker v. Ry. Co., 54 Mo. 177.

11 Louisville, etc., Co. v. Smith, 121 Ind. 353; 6 L. R. A. 320; 22 N. E. 775.

12 Smith v. Ry. Co., 104 Ia. 147; 73 N. W. 581.

13 Chase v. Swift, 60 Neb. 696; 83 Am. St. Rep. 552; 84 N. W. 86.

14 Adams v. Ry., 125 N. C. 565; 34 S. E. 642.