Rait was born on 10 February 1874 in Narborough, Leicestershire, although the family moved shortly afterwards to Aberdeen.
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After being knighted in 1933, he was met on his return from London to Glasgow Central station by hundreds of students and escorted to the University in a carriage drawn by Blues and led by the band of the OTC.
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Rait's research generally maintained a Scottish focus, particularly with a reference to the politics of pre-Union Scotland and its relationship with England, although he also completed biographies of Field Marshal Viscount Gough and Field Marshal Sir Frederick Haines.
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Profits from the fair were used to fund the establishment of a Chair of Scottish History and Literature at the University of Glasgow the post was originally filled by Robert Rait and is now occupied by Edward J. Cowan.