McMaster's Commercial Decisions Affecting the Banker and Merchant; From the Decisions of the Highest Courts of the Several States Volume 4

McMaster's Commercial Decisions Affecting the Banker and Merchant; From the Decisions of the Highest Courts of the Several States Volume 4

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1901 edition. Excerpt: ...apparent authority, on which the plaintiff was entitled to rely in dealing with him. Middleton was not the universal agent or alter ego of the defendant, but as to the business confided to him he was a general agent. The circulars and notices directed persons interested to, "For rates of freight or passage apply to R. Middleton, agent, Mobile; W. Best, agent, No. I2 Broadway, New York." The general rule is, " where an entire business is placed under the management of an agent, the authority of the agent may be presumed to be commensurate with the necessities of the situation." Hufi'. Ag. p. 112, I07. " The powers of the agent are, prima facie, co-extensive with the business intrusted to his care, and will not be narrowed by limitations not communicated to the person with whom he deals." Insurance Co. v. Wilkinson, 13 W'all. 222, 20 L. Ed. 617; approved Pechner v. Insurance Co., 65 N. Y. 207. The evidence shows that the other transportation lines doing business between Mobile and New York gave free insurance without requiring declaration of value to shippers of freight over those lines, and had done so for a long period. "Where the principal confers upon his agent an authority of a kind, or empowers him to transact business of a nature, in reference to which there is a well-defined and publicly known usage, it is the presumption of law, in the absence of anything to indicate a contrary intent, that the authority was conferred in contemplation of the usage, and third persons, therefore, who deal with the agent in good faith and in the exercise of reasonable prudence, will be protected against limitations upon the usual authority, of which they had no notice." Mechem, Ag. 281. In...show more

Product details

  • Paperback | 486 pages
  • 189 x 246 x 25mm | 862g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236815459
  • 9781236815453