ARTICLE 3. Factors

Article 3 enacted 1872.

§§ 2026–2030 · 5 sections

• § 2026 A factor is an agent who, in the pursuit of an independent calling, is employed by another to sell property for him, and is vested by the latter with the…
• § 2027 A factor must obey the instructions of his principal to the same extent as any other employé, notwithstanding any advances he may have made to his principal…
• § 2028 A factor may sell property consigned to him on such credit as is usual; but, having once agreed with the purchaser upon the term of credit, may not extend it.
• § 2029 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…
• § 2030 A factor who receives property for sale, under a general agreement or usage to guarantee the sales or the remittance of the proceeds, cannot relieve himself…