Page:United States Statutes at Large Volume 76A.djvu/286

–190– -190§ 2707. Power to disobey instructions An agent may disobey instructions in dealing with the subject of the agency, in cases where it is clearly for the interests of his principal that he should do so, and there is not time to communicate with the principal. § 2708. Authority given in general and specific terms When an authority is given partly in general and partly in specific terms, the general authority gives no higher powers than those specifically mentioned. § 2709. Exceptions to general authority An authority expressed in general terms, however broad, does not authorize an agent to: (1) act in his own name, unless it is the usual course of business to do so; (2) define the scope of his agency; or (3) do any act which a trustee is forbidden to do by sections 3531-3541 of Title 7. § 2710. Authority to sell personal property An authority to sell personal property includes authority to warrant the title of the principal and the quality and quantity of the property. § 2711. Authority of general agent to receive price A general agent to sell, who is intrusted by the principal with the possession of the thing sold, may receive the price. § 2712. Authority of special agent to receive price A special agent to sell may receive the price on delivery of the thing sold, but not afterwards. Subchapter III—Mutual Obligations of Principals and Third Persons § 2731. Principal's rights and liabilities from agent's acts An agent represents his principal for all purposes within the scope of his actual or ostensible authority, and all the rights and liabilities which would accrue to the agent from transactions within that limit, if they had been entered into on his own account, accrue to the principal. § 2732. Incomplete execution of authority A principal is bound by an incomplete execution of an authority only when it is consistent with the whole purpose and scope thereof. § 2733. Notice to principal or agent As against a principal, both principal and agent are deemed to have notice of whatever either has notice of, and ought, in good faith and the exercise of ordinary care and diligence, to communicate to the other. § 2734. Obligation of principal when agent exceeds authority When an agent exceeds his authority, his principal is bound by his authorized acts only as far as they can be plainly separated from those which are unauthorized. § 2735. Acts under ostensible authority A principal is bound by acts of his agent, under a merely ostensible authority, to those persons only who have in good faith, and without want of ordinary care, incurred a liability or parted with value, upon the faith thereof.

�