California Law (Last Updated: March 4, 2014) |
Civil Code - CIV |
Division 3. OBLIGATIONS |
Part 4. OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS |
Title 6. SERVICE |
Chapter 2. Particular Employments |
ARTICLE 3. Factors |
Section 2029.
Latest version.
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A factor who charges his principal with a guaranty commission upon a sale, thereby assumes absolutely to pay the price when it falls due, as if it were a debt of his own, and not as a mere guarantor for the purchaser; but he does not thereby assume any additional responsibility for the safety of his remittance of the proceeds.
(Enacted 1872.)