POWERS OF ATTORNEY

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transaction already binding on the principal and not involving
the passing of any interest vested in the trustee in bankruptcy
[Markwick v. Hardingham (1880), 15 Ch. D. 339]; and this
rule is also without prejudice to the rights conferred on third
parties by ss. 40 to 47 of the Bankruptcy Act, 1914, in respect
of transactions entered into bona fide and without notice
of an act of bankruptcy. By s. 22 of the last-mentioned
statute a bankrupt is bound to execute such powers of attorney
as may be reasonably required by the Official Receiver or the
trustee in bankruptcy, or as may be prescribed by the Bank-
ruptcy Rules or directed by the Court, in order to effect the
due administration of his estate; and by s. 55 (4) a trustee
in bankruptcy may execute any power of attorney for the
purpose of carrying into effect the provisions of the Act.

Where a company has given a power of attorney, liquida- Liquidation
tion has apparently at common law the same effect as the of Donor
bankruptcy of an individual donor, i.e. it revokes the power Bompazy.
[re Oriental Bank (1885), 28 C.D. 634; and as to dissolution of
a company, see Salton v. New Beeston Cycle Co. (1900), 1 Ch.
43]. There is, however, the same statutory protection as in
the case of bankruptcy; for bys. 205 of the Law of Property
Act, 1925, the expression ‘bankruptcy’ in ss. 124, 126, and
127 includes liquidation.

A liquidator has power to appoint an agent to do any
business which he is unable to do himself [Companies Act,
1929, s. 191 (2)].

[t is probably still an open question whether bankruptcy
of the attorney automatically revokes the power. There are
dicta to this effect, as in the old case of Hudson v. Granger
(1821), 5 B. & A. 27 relating to a factor. On the other hand,
it was held in McCall v. Australian Meat Co. (1870), 19 W.R.
188, in relation to an agency contract, that it was a question
of fact in each case whether the circumstances of the bank-
ruptcy, having regard to the nature of the agent’s duties and
the terms of his employment, were such as to render the agent
unfit to carry out his agency.

Possibly the only safe course for the principal to take on
hearing of his attorney’s bankruptcy is to execute an express
revocation of the power, without prejudice to any prior revoca
tion which may have arisen by operation of law.

Ratification of an unauthorized act may be given expressly Ratification.
in writing or verbally, or may be implied either by some
adoptive act or by silent acquiescence after knowledge of the
irregularity. The effect of ratification is thrown back to the
date of the act done, and the agent is put in the same position
as if he had had authority to do the act at the time the act