Richardson's Commercial Law; A Text-Book for Schools, Colleges and Private Reference

Richardson's Commercial Law; A Text-Book for Schools, Colleges and Private Reference

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1907 edition. Excerpt: ...and thereby make B personally liable to the third person for the purchase money. 548. By the Form of Contract.--An agent may make himself responsible by the form of the contract. If an agent sign a contract in his own name, as, for example, he gives a promissory note with his own name signed thus, "B, agent," he technically binds himself. 59It is a general rule that a written instrument must purport on its face to be the act of the principal. The usual and most reliable forms are, "A (principal) by B (agent)," or "A, by his attorney, B," or "A (agent) for B (principal." 550It is of the utmost importance for agents to take care that they do not bind themselves, and this can usually be avoided by doing that which every agent should do i. e., transacting the business of the agency in the name of the principal. 551. Expressly Agrees to Become So.--The agent will be personally liable whenever he expressly or impliedly undertakes to become so. Thus, if an agent should buy goods for his principal, and by a written memorandum should acknowledge the purchase was for his principal, and should promise to pay for them, he would be personally liable. So, if an agent selling goods should make out the bill for the goods as bought of him, he would be personally liable for a failure to deliver the goods. And so if an agent should retain an attorney for his principal, and should promise to pay him his fee, he would be personally liable. 552. Agent's Liability for Torts.--As we have previously stated, the principal is liable to third persons for misfeasances, negligences and omissions of duty of his agent, leaving him to his remedy against his agent in all cases where the tort is of such a nature as to entitle him more

Product details

  • Paperback | 86 pages
  • 189 x 246 x 5mm | 168g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236535723
  • 9781236535726