Page:United States Statutes at Large Volume 47 Part 1.djvu/1290

 1266 72d C ONGRESS. SESS. IL CH. 128 . FEBRUARY 27, 1933 . Ratification not to SEC. 1050. RATIFICATION NOT TO WORN INJURY TO THIRD PERSONS : w or k injury to third pe rson. No unauthorised act can be made valid, retroactively, to the prejudice of third persons, without their consent. Res ciss ion of. SEC. 1051. RESCISSION of RATIFICATION:A ratification may be re- scinded when made without such consent as is required in a contract, or with an imperfect knowledge of the material facts of the trans- action ratified, but not otherwise. anth re of agents SEC, 1052 . MEASURE OF AGENT'S AUTHORITY .An a gent has suc h auth orit y as the pri ncip al, actu ally or oste nsib ly, conf ers upon him. CROSS REFERENCES Ante, P. 15. Actual agent, defined, see section 1039. Post, p.1287. Extent of authority, see sections 1055 to 1057 and 1083. Post, p. Ostensible agency, see sections 1054 to 1056, 1063, and 1067. Act ual auth orit y. SEc. 1053. ACTUAL AUTHORITY, wHAT.-Actual authority is such as a principal intentionally confers upon the agent, or intentionally, or by want of ordinary care, allows the agent to believe himself to possess. Ost ensi ble SEC. 1054. OSTENSIBLE AUTHORITY, wBAT .-Ostensible authority is such as a principal, intentionally or by want of ordinary care, causes or allows a third person to believe the agent to possess. Ante, p.1265. Ante, p.1265. Persons having tho e of restrictions. Pod, p.1 260. Post, p.1287. CROSS REFERENCES Esto ppel from a sub seque nt ra tific ation, see sect ions 1044, 1048, and 1049 to 1061. Ostensible agent, defined, see section 1040. no SEC. 1055 . AGENT'S AUTHORITY AS TO PERSONS SAVING NOTICE OF RESTRICTIONS UPON rr.-Every agent has actually such authority as is defined by this chapter and chapter 52 of this code, unless spe- cially deprived thereof by his principal, and has even then such authority ostensibly, except as to persons who have actual or con- structive notice of the restriction upon his authority. CROSS R. ENCE Extent of authority, see sections 1052, 1656, 1057, and 1063. A necessary an- SEC. 1056 . AoENT's NECESSARY AUTHORITY.-An agent has author- ity : . To do everything necessary or proper and usual, in the ordinary course of business, for effecting the purpose of his agency ; and 2 . To make a representation respecting any matter of fact, not including the terms of his authority, but upon which his right to use his authority depends, and the truth of which ,can not be deter- mined by the use of reasonable diligence on the part of the person to whom the representation is made. CROSS REFERENCE Post, p • 7• Extent of authority, see sections 1052, 1055, 1057, and 1063. stsp vction o disobey ta- SEC. 1057. AGENT'S POWER TO DISOBEY INSTRUCTIONS :An agent has power to disobey instructions in dealing with the subject of the agency, in cases where it is clearly for the interest of his prin- cipal that he should do so, and there is not time to communicate with the principal. CROSS Rxaxrsiccn Prd, p.1267: Extent of authority, see sections 1052, 1055, 1056, and 1063.