Ratification of a defective contract can have significant effects on the rights and obligations of the involved parties. Essentially, ratification is a legal process that validates a defective contract or agreement and confirms it as a binding and enforceable agreement.

Defective contracts are typically those that are flawed in some way, whether it be missing terms, a lack of clarity or ambiguity, or a mistake in the drafting. In some cases, a contract may also be deemed defective due to a lack of proper legal capacity or authorization by one or more of the parties involved.

Ratification comes into play when one party involved in a defective contract decides to accept the agreement as valid and enforceable. This can happen in a variety of ways, such as through continued performance of the contract, making payments, or simply acknowledging the agreement in writing or verbally. By ratifying the agreement, the party effectively waives any claims they may have had against the defects in the contract and accepts the terms as they are.

The effect of ratification on a defective contract can range from minor adjustments to significant changes in the terms and conditions of the agreement. In some cases, ratification may result in the removal of the defects in the contract through the addition of missing terms or clarifications to ambiguous language. Other times, it may require the parties to renegotiate the terms of the agreement altogether.

Another significant effect of ratification on a defective contract is that it removes any legal grounds for the parties to back out of the agreement. Once a contract has been ratified, it is considered legally binding and enforceable, even if it was defective originally.

In conclusion, ratification of a defective contract can have a significant impact on the rights and obligations of the parties involved. Careful consideration should be taken before ratifying any agreement, as it may result in significant changes to the terms of the agreement or create legal liabilities. Expert legal advice can be helpful in navigating this complex process and ensuring that all parties are satisfied with the outcome.