All by previous comments are spot on from my limited experience. The only thing I will add is to inspect the balls and the ball sockets in the ratchet mechanism. If you see any dents in the ball pockets the ratchet needs replacing.
The balls are hard and the ball pockets are soft, eventually the balls makes dents in the pockets and the balls hang up (get stuck) in the pockets and fail to release.
The balls are hard and the ball pockets are soft, eventually the balls makes dents in the pockets and the balls hang up (get stuck) in the pockets and fail to release.