654 (1993) quoting Simmons v. Peoples Bank, 27 B.R. 508, 510 (Bankr. W. D. Va. 1983). See also Ashby v. Dumouchelle, 185 Va. 724 (1946). PRC was clearly chargeable with knowledge of the contents of section 31 long before Slusher executed the Second Amendment to Lease on its behalf. That document was executed well after all of the “interested” AH officers had left the company. At that time, PRC again affirmed the validity of the Cascades West lease and continued to occupy the leased premises for the entirety of the first option term before asserting that the lease was void. PRC argues that the Virginia Code sets out the sole manner in which a related party corporate transaction can be ratified. The Court disagrees. Where, as here, a successor to the origi p., 139 Va. 366, 374 (1924) (<HOLDING>); Webb v. Duvall, 11 A.2d 446, 448 (Md. 1940)
holding that nonsignatories to a contract have no rights under the contract and thus no standing to assert claims under the contract holding that a former minor who had signed a release at age 17 in order to skydive ratified the contract as a matter of law by accepting the benefits of the contract when he used the defendants facilities and further stating that the question whether that former minors subsequent actions constituted disaffirmance of the contract was not relevant because the former minor had already ratified the contract recognizing that the elements of a claim for breach of contract are 1 existence of a valid contract and 2 breach of the terms of that contract holding that even though certain corporate formalities had not been complied with in the execution of the subject contract the corporation had knowledge of the existence of the contract and treated it as a valid and binding contract and thus ratified the contract by accepting the benefits thereunder holding that party to contract could not with knowledge of the fraud which had been practiced upon him take any benefit under the contract or change the condition of the property  and then repudiate the contract because the taking of a benefit is an election to ratify it