5. Write short note on the following a. Bailee
b. An overt
c. Estoppel
d. Ratification
e. Del credere agent​

a). Bailee - It is described as the individual who gains or holds bailed property or possession of it. He/she is the one who takes possession of the property of another(called a bailor)  for a temporary period in order to keep that property safe for the other.

b). An overt -  In terms of law, an act is characterized as an overt act when it is open and not hidden or concealed. Such an act can clearly be observed and revealed the criminal intent of the person.

c). Estoppel - A legal principle in the law of equity that prevents a party from asserting otherwise valid legal rights against another party because of conduct by the first party, or circumstances to which the first party has knowingly contributed, make it unjust for those rights to be asserted.

d). Ratification - It is described as a formal declaration of agreement, giving consent, sign off, or validifying to a treaty in an official manner. Thus, it is the process of providing legal authority to the law or principle.

e). Del Credere Agent - These are described as the agent who not only engages in selling goods on credit but also ensures a guarantee to the principal that the purchaser/buyer is solvent. The seller is otherwise responsible for the debt.

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