Legal basis: Article 171 of the Civil Law of People's Republic of China (PRC) states that the actor has no power of agency, exceeds the power of agency, or the contract concluded in the name of the principal after the termination of the power of agency is invalid for the principal without ratification by the principal, and the actor shall bear the responsibility. The other party may urge the principal to ratify it within one month. If the trustor fails to declare it, it shall be deemed as refusal to ratify it. Before the contract is ratified, the bona fide counterpart has the right to cancel the contract. Revocation shall be made by notice.