https://www.taxtmi.com/caselaws?id=288883 A company is bound by a manager's acts done within apparent authority in the ordinary course of business, and a bona fide third party need not verify every internal sanction. On that basis, the assignment and sale of decrees were treated as valid and binding on the company, since the transactions fell within the company's business powers and were not shown to be ultra vires. The company's receipt and appropriation of the consideration, together with its failure to object to the assignee's substitution application, amounted to ratification. The assignee was therefore entitled to execute the decrees after substitution. en-us Wed, 23 Jul 1924 00:00:00 +0530 Sat, 04 Jul 2020 11:40:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288883 A company is bound by a manager's acts done within apparent authority in the ordinary course of business, and a bona fide third party need not verify every internal sanction. On that basis, the assignment and sale of decrees were treated as valid and binding on the company, since the transactions fell within the company's business powers and were not shown to be ultra vires. The company's receipt and appropriation of the consideration, together with its failure to object to the assignee's substitution application, amounted to ratification. The assignee was therefore entitled to execute the decrees after substitution. Case-Laws Indian Laws Wed, 23 Jul 1924 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288883