The Chautauquan, Vol. 04, April 1884, No. 7 — John Shaqi
The Chautauquan, Vol. 04, April 1884, No. 7Chautauqua Literary and Scientific Circle
Religion
The Chautauquan, Vol. 04, April 1884, No. 7
Chautauqua Literary and Scientific Circle
Chautauqua Institution -- Periodicals; Chautauqua Literary and Scientific Circle -- Periodicals
While the principal is responsible for the acts of his agent, when not
beyond the authority given, it is the duty of the agent to obey the
instructions of his principal. This he is always to do unless some
unforeseen situation presents itself, which requires the exercise of a
discretionary power and immediate action. And then, an agent would be
justified in acting contrary to instructions, or without instructions
only when reasonable foresight and experience would approve of the
course pursued by him. This for legitimate pursuits, our readers always
remembering that an agent is not justified in doing an illegal or immoral
act, and that, even though specially instructed so to do. The agency must
be apparent and known to exist, that third parties may know themselves
to be dealing with one in such capacity, and that agents may not be
made to assume responsibilities which do not belong to them. This may
be accomplished by advertising in and transacting all business in the
principal’s name; or where the name of the principal is not necessarily
made use of in the course of the business, the fact of the agent’s
business employment being known as such would doubtless be sufficient.
A clerk having occasion, in the course of business, to sign his
employer’s name to letters, in receipting bills and such routine
business, does it in this manner:
E. E. EMMONS,
_Per S._
Where special authority is given to sign checks, notes and accept bills
in his principal’s or employer’s name, the agent will add his own name,
with the word “Attorney.”
It must be remembered that an agency, so far as an agency transaction
is concerned, must stand by itself, and not be associated with agent’s
private business; that principal’s and agent’s property should be kept
entirely distinct.
A commission merchant, although an agent so far as his dealings with his
principal or consignor, is not such in relation to other parties, since
he does business in his own name, and is recognized as a merchant and not
an agent, although his business may be largely a commission business.
He is bound to obey instructions of his principal or consignor, whom he
charges a percentage for the handling of the goods consigned, incidental
expenses, and, in cases where he assumes the indebtedness resulting from
the sales, an extra commission.
Since mention has been made of commission merchants, we must
individualize once more, and mention brokers. A broker simply effects
a sale or purchase, as of merchandise or stocks. Unlike commission
merchants they neither have, for the purpose of effecting the one, nor
acquire by the accomplishment of the other, absolute possession of the
chattels bought or sold.
Public-domain text, read in full here on John Shaqi.
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