California Law (Last Updated: March 4, 2014) |
Civil Code - CIV |
Division 3. OBLIGATIONS |
Part 4. OBLIGATIONS ARISING FROM PARTICULAR TRANSACTIONS |
Title 9. AGENCY |
Chapter 2. Particular Agencies |
ARTICLE 2. Factors |
Section 2368.
Latest version.
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In addition to the authority of agents in general, a factor has actual authority from his principal, unless specially restricted:
1. To insure property consigned to him uninsured;
2. To sell, on credit, anything intrusted to him for sale, except such things as it is contrary to usage to sell on credit; but not to pledge, mortgage, or barter the same; and,
3. To delegate his authority to his partner or servant, but not to any person in an independent employment.
(Enacted 1872.)