Page:Harvard Law Review Volume 1.djvu/38

 The theories that I have advanced in this essay will, I think, be confirmed by examining the rules regulating the issue and use of tickets which have been established by authority. These rules correspond in all respects with those established in the case of notes payable to bearer; and new questions would doubtless be settled in accordance with the law of negotiable paper. It is necessary to pass over these points as rapidly as possible.

A ticket, then, must be in regular form. The name of the maker should be on it, and the necessary terms of the contract. In some cases a peculiar color, or other distinguishing mark, is used to designate the terms of the ticket. A ticket must always, it seems, be printed; some of the terms may be written, but they must be written in a printed form.

Like other formal contracts a ticket takes effect only from the time of its delivery; before that the ticket is waste paper. The delivery is generally made on behalf of the company by an agent, called a ticket-agent. The powers of a ticket-agent are exceedingly limited. He is authorized only to sell a ticket for cash. He cannot sell on credit, nor can he make representations as to the general affairs of the company. He is simply an agent for the sale of tickets, not to make contracts; and his representations bind the company only when they are representations as to the validity of the tickets he sells. Thus, if he sells a punched ticket, representing it to be a good one, the company is liable on the ticket; though if he gives a ticket for B, when the passenger calls for and pays for a ticket to A, the passenger can ride only to B on the ticket. In fact, the powers of a ticket-agent are the ordinary powers of an agent for sale.

A ticket to be good against the company requires some to have been given for it, otherwise it may be repudiated by the company. A free pass, for instance, may be revoked at any moment until it is actually used. But the consideration need not have been a valuable one. Any consideration that would support a promissory note would support a ticket. Thus, a theatre ticket sent to a dramatic critic is binding. A man travelling on a free pass given him by the railroad company, under an agreement