California Codes, 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
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.
Notes
Allows a factor, unless specially restricted, to insure uninsured consigned property, sell entrusted goods on credit when usage permits, and delegate authority to a partner or servant. Prohibits the factor from pledging, mortgaging, or bartering goods entrusted for sale and from delegating the authority to a person in independent employment.
Use as reference
Lexinter.net | California Code, Civil Code - CIV § 2368 | https://laws.lexinter.net/codes/california/civil-code/division-3/part-4/title-9/chapter-2/article-2/section-2368