CHAPTER II. PARTICULAR AGENCIES. ARTICLE I. Auctioneers. III. Shipmasters. ARTICLE I. AUCTIONEERS. SECTION 1013. Auctioneer's authority from the seller. 1014. Auctioneer's authority from the bidder. eer's § 1013. An auctioneer, in the absence of special autho- Auctionrity or usage to the contrary, has authority from the seller, authority only as follows: 1. To sell by public auction to the highest bidder;' 2. To sell for cash only,' except such articles as are usually sold on credit; 3. To warrant, in like manner with other agents to sell, according to 994.' 4. To prescribe reasonable rules and terms of sale;* 5. To deliver the thing sold, upon payment of the price;" 6. To collect the price;" 7. To do whatever else is necessary, or proper and usual, in the ordinary course of business, for effecting these pur poses. 1 Sto. Agency, § 108. Sto. Agency, §§ 60, 108. Sto. Agency, § 107. Sto. Agency, § 107. Brown v. Staton, 2 Chitt., 353. * Minturn v. Main, 7 N. Y., 227. from the sellor. eer's autho § 1014. He has authority from a bidder at the auction, as Auctionwell as from the seller, to bind both by a memorandum of rity from the contract as prescribed in the title on SALE. the bidder. Factor defined. Authority of factor. Ostensible authority. § 1015. A factor is an agent, who is employed to buy or sell property in his own name, and who is entrusted by his principal with the possession thereof. § 1016. In addition to the authority of agents in general, a factor has actual authority from his principal, unless spe cially restricted: 1 1. To insure property consigned to him uninsured; 1 2. To sell, on credit, anything entrusted to him for sale,* except such things as are never sold on credit by dealers of ordinary prudence; but not to pledge, mortgage, or barter the same; 3. To delegate his authority to his partner or servant,' but not to any person in an independent employment." § 1017. He has ostensible authority, as to persons having no notice that the property with which he deals is not his own, to deal with it in any manner.1 1 See title on PLEDGE. ARTICLE III. SHIPMASTERS. SECTION 1018. Authority of shipmaster. 1019. Personal liability for contracts relative to the ship. 1022. Powers on the voyage. 1023. Power to make contracts. 1024. Power to charter ship in foreign port. 1025. Power to hypothecate ship or sell part of the cargo. 1026. Engagement to ransom ship binds ship, freight money and cargo. 1027. Authority to sell the ship and cargo. 1028. Abandonment terminates master's power. of shipmas § 1018. A shipmaster is a general agent for the owner Authority of his ship in all matters concerning the same. He has ter. authority, if it is necessary to enable him to complete his voyage, and neither the owner of the ship nor his proper agent for such matters can be consulted without injurious. delay, to borrow money on the credit of the ship. The Fortitude, 3 Sumn., 228; Weston v. Wright, 7 M. & 2 § 1019. Unless otherwise expressly agreed,' or unless the contracting parties give exclusive credit to the owner, the master is personally liable upon his contracts relative to the ship, even when the owner is also liable. Personal contracts to liability for the ship. § 1020. He is liable to third persons for the acts or negligence of persons employed upon the vessel, who are not appointed by him, to the same extent as if they were. Denison v. Seymour, 9 Wend., 8. § 1021. He is not responsible for the negligence of a pilot whom he is bound by law to employ, but if he is allowed an option between pilots, or required only to pay compensation to a pilot whom he does not choose to employ, he is so responsible. Story Ag., § 456, note. Power to make contracts. Powers on the voyage. Power to charter ship in foreign port. Power to hypothe sell part of cargo. § 1022. The master may procure all necessary repairs and supplies for the ship, and may engage goods and pas sengers for carriage, and his contracts for these purposes, bind the owner or other person mentioned in section to the full amount of the value of the ship and freight. 3 Kent Com., 161. § 1023. The master during the voyage has command of the ship, of the crew and of all on board, being responsible for the abuse of his command. § 1024. In a foreign port the master may bind the ship and freight-money by a charter-party. 3 Kent Com., 162. § 1025. The master of a foreign ship, in the absence of cate ship or the owners, or a majority of them, may, if necessary, hypothecate the freight-money as well as the ship, to raise money requisite for the completion of the voyage; and he may also sell a part of the cargo for the same purpose. Engage ment to ransom ship, bind 3 Kent Com., 172, 173. § 1026. In case of capture of the ship, the master may engage to pay a ransom for it in money or in part of the ship, freight cargo, and his engagement will bind the ship, freight money and cargo. money and cargo. Authority to sell the ship Ib. § 1027. If the voyage is broken up beyond the possiand cargo. bility of pursuing it, the master may sell the ship and cargo for the benefit of the owners. Abandon.. ment termi Ib. § 1028. The power of the master to bind the owner, ter's power. ceases upon the abandonment of the ship and freight nates mas money to insurers. 3 Kent, 331. TITLE XI. PARTNERSHIP. CHAPTER I. Partnership in general. III. Special Partnership. CHAPTER I. PARTNERSHIP IN GENERAL. ARTICLE I. Partnership, what, and how formed. III. Mutual obligations of partners. ARTICLE I. PARTNERSHIP, WHAT, AND HOW FORMED. SECTION 1029. Partnership defined. 1030. Formation of partnership. defined. § 1029. The contract of partnership is an agreement be- Partnership tween two or more persons to divide between them the profits and losses of any business' in which a single person may lawfully engage. 1 Reynolds v. Cleveland, 4 Cow., 282; Porter v. McClure, of partnership. §1030. Partnership can be formed only by the consent Formation of all the parties thereto, and therefore no new partners can be admitted without the consent of every member of the firm. Story on Partn., § 5. |