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Current as of January 01, 2024 | Updated by Findlaw Staff
In addition to the authority of agents in general, a factor has actual authority from the factor's principal unless specially restricted:
1. To insure property consigned to the factor uninsured.
2. To sell property consigned to the factor on such credit as is usual, except such things as it is contrary to usage to sell on credit, but having once agreed with the purchaser upon the terms of credit, a factor may not extend it, nor may the factor pledge, mortgage, or barter the property so consigned.
3. To delegate the factor's authority to the factor's partner or servant, but not to any person in an independent employment.
Cite this article: FindLaw.com - North Dakota Century Code Title 3. Agency § 3-06-02. Authority of factors - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-3-agency/nd-cent-code-sect-3-06-02/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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