Originally Posted by Big-E
In general, no. The rip will eventually allow grease to leak out and water and dirt to get in.
Unfortunately, that ring will come off when you pull the traverse-link upwards too fast to effectively seat the ball-joint so you can install the washer and castle-nut. The boot has to be pushed up the shaft of the ball-joing by hand and the traverse-link pulled up (pushed up) slowly all-the-while making sure you're looking at that ring.
Put it together and leave it for now. Contact your favorite WL vendor and see if he/she can get you another single ball-joint. It may take a while, but from what I understand it can be done.
may I use some epoxy to seal the bottom side?