rate

any rate or charge for the transportation of persons or property.

Defined by the Supreme Court in United States v. Chesapeake and Ohio Railway Company, 426 U.S. 500 (1976).

A public valuation or assessment of every man’s estate; or the ascertaining how much tax every one shall pay. See Pow. Mortg.; Mc Whorter v. Benson, 1 Hopk. Ch. (N. Y.) 37.

Proportional or relative value, measure or degree; the proportion or standard by which quantity or value is adjusted. Thus, the rate ot interest is the proportion or ratio between the principal and interest. So the buildings in a town are rated for insurance purposes; i. e., classified and individually estimated with reference to their insurable qualities. In this sense also we speak of articles as being in "first-rate" or "second-rate" condition. Absolute measure, value, or degree. Thus, we speak of the rate at which public lands are sold, of the rates of fare upon railroads, etc. See Georgia R. & B. Co. v. Maddox, 116 Ga. 64, 42 S. E. 315; Chase v. New York Co.nt. R. Co., 26 N. Y, 526; People v. Dolan, 36 N. Y. 67. The term ls also used as the synonym of "tax;" that is, a sum assessed by governmental authority upon persons or property, by proportional valuation, for publlc purposes. It is chiefly employed in this sense in England, but is there usually confined to taxes of a local nature, or those ralsed by the parish ; such as the poor-rate, borough-rate, etc. It sometimes occurs In a connection which gives it a meaning synonymous with "assessment;" that is, the apportionment of a tax among the whole number of persons who are responsible for it, by estimating the value of the taxable property of each, and making a proportional distribution of the whole amount. Thus we speak of "rating" persons and property. In marine Insurance, the term refers to the classification or scaling of vessels based on their relative state and condition in regard to insurable qualities; thus, a vessel in the best possible condition and offering the best risk from the underwriter's standpoint, is "rated" as "A 1." See Insurance Companies v. Wright, 1 Wall. 472, 17 In Ed. 505.

— Rate of exchange. In commercial law. The actual price at which a bill, drawn in one country upon another country, can be bought or obtained in the former country at any given lime. Story, Bills, § 31.

— Rate-tithe. In English law. When any sheep, or other cattle, are kept in a parish for less time than a year, the owner must pay tithe for them pro rata, according to the custom of the place. Fitzh. Nat. Brev. 51.

Price, value; standard, rank; an assessment or tax. Ratitl6are, U In old English law. To ratify. Ratiilcasse: have ratified.

' 1. Rank, standard; proportion; value, price, amount: as, in rate or rates of fares, rate of exchange {q. v.), rating of vessels. Rate means price, value. " Going rate " as to freight means an established price for the time.^ 2. A sum assessed as a tax; in England, a local tax: as, the county, the borough, the poor rate. ' See generally Commouwealth v. Roosnell, 143 Mass. - 37-40 (1887). 'Abbott, Bouvier, Law Diets.; 50 Conn. 579; 77 Mo. 157; 50 Wis. 518; 2 Bish. Cr. L. §§ 1107-36; 2 Whart. Cr. L. §§ S50-77. 8 State V. Jones, 39 La. An. 935 (1887), cases. ■"Davis V. State, 42 Tex. 228 (1875); 60 Barb. 132; 18 S. & R. 69; 8 Gray, 490; 3 Ind. 230. » 4 Bl. Com. 213. » R. S. §§ 6345, 6339. ' L. rata (.pars): ratiis, reckoned, calculated. Com- May apply to the percentage of taxation, or to the valuation of the property.^ Katable. " Eatable estate," within the meaning of a tax law, is taxable estate.* Hates of postage. See Mail, 2. RATrPICATION.3 Acceptance or adop- ' tlon of an act performed by another as agent. or representative; in particular, confirmation f' of what has been done without original au- '' thority.* An adoption of a contract made on our behalf by some one whom we did not authorize, which relates back to the execution of tbe contract and renders it obligatory from the outset. 5 Requires some positive, assertive act. An " estoppel" may be created by silence.' Eefers to contracts between private persona, to treaties between states, and to changes proposed in written constitutions. 1. Eatiflcation of the unauthorized act of another operates upon the act ratified as if authority to do the act had been previously given, except where the rights of third parties have intervened between the act and the ratification. In other words, it is essential that the party ratifying should be able not merely to do the act ratified at the time the act was done, but also at the time the ratification was made.' It is by express consent, or by conduct inconsistent with any other hypothesis than that of approval; but inoperative, if the party sought to be charged was not competent to make the contract when the same was made, nor when the supposed act of ratification was performed, or if the contract was illegal, immoral, or against public policy." Where fraud is of such a character as to involve a crime, ratification of the act from which it springs is opposed to public po Ucy, and, hence, cannot be permitted; but where the transaction is contrary only to good faith and fair dealing, where it affects individual interest merely, ratification is permitted. Thus, the toigery of an indorsement, being a criminal act, is incapable of ratification.' ^ 1 State V. Utter, S4 N. J. L. 494 (1869), Van Syckel, J.; Burlington, &c. E. Co. v. Lancaster County, 4 Neb. 304 (1876), Lake, C. J. = Marshfleld v. Middlesex, 55 Vt. 546 (1888), Powers, J.; 115 Mass. 186. = L. L. ratificare, to confirm: ratus, settled; facere, to make. * See Negley v. Lindsay, 67 Pa. 228 (1870), oases. ' Hare, Contracts, 272 (1887). « Howell V. Mc Crie,.36 Kan. 651 (1887). ' Cook V. Tullis, 18 Wall. 338 (1873), Field, J.; Marsh V. Fulton County, 10 id. 684 (1870), cases; Norton v. Shelby County, 118 U. S. 451 (1886); 19 Cent. Law J. 182 (1884), cases. 8 Supervisors v. Schenck, 5 Wall. 781-83 (1866), cases, aifford, J.; United States v. Grossmayer, 9 id. 72 Any ratification by an adult of his act done in infancy, of a clear and unequivocal character, showing an intention to affirm, will bind him. Mere acquiescence is not therefore enough. But it is not necessary that the act of affirmance be as solemn as the original act itself.' A distinction is recognized between acts necessary to avoid and to confirm an infant's deed. Some assert that the avoidance must be by an act as solemn as the deed; some, that that cannot be done short of an act of entry; others, that it can be done by another deed to a different grantee. But all agree that acts which would not be sufficient to avoid such a deed may amount to an affirmance. Acquiesc^ce, with other circumstances, may establish a ratification. The reason is, a confirmation is an act of a character less solemn than an avoidance, and it may well be effected in a less formal manner.! No new consideration is required; but it is essential that the person sought to be charged have full knowledge of the facts in the case.'* If the principal ratifies that which favors him, he ratifies the whole, as far as it is not unlawful. = To have a retrospective effect, as against the interest of a third party, there must be some mutuality between the ratifying principal and such party.* See Affirm, 2; Knowledoe, 1; Batihabitio; Void. 2. Eatification of conventions between independent states. See Tkeatt. 3. Eatification of amendments to constitutions. See Amendment, 2.

) [L. Lat. corpus corporatum.] A corporation; so called because the persons composing it are made into a body. Co, Litt. 250 a. Said to be the most correct as well as the earliest name of a corporation in English law. P. Cyclopcsdia, voc. Corporation.