AJ 010 Chapter Notes - Chapter 3: Moe Williams, Apparent Authority
7 May 2020
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The ff are included in a power to sell: Fix the terms of the sale unless there be set conditions stipulated by the principal; Receive the price unless he was authorized only to solicit orders. The ff are not included in a power to mortgage. Mortgage for the agent"s personal benefit or for the benefit of any 3rd person, unless the contrary has been clearly indicated. But he may not have the right to use such power if he has agreed not to exercise such power during a certain period. In case he fails to comply with this obligation-not-to-do, he will be liable for damages. A special power to compromise does not authorize submission to arbitration. A principal may authorize his agent to compromise because of absolute confidence in the latter"s judgment and discretion to protect the former"s rights and obtain for him the best bargain in the transaction.
