(1) The effectiveness of a purchase made in violation of section 450 and of the transfer of the object purchased is subject to the approval of the person taking part in the sale as obligor, owner or obligee. Where the buyer requests a person taking part to make a declaration of ratification, section 177 (2) applies accordingly.
(2) If, as a result of refusal of ratification, a new sale is undertaken, then the earlier buyer is liable for the costs of the new sale and for an amount by which the proceeds of sale are reduced.