Lawgist204Revocation where authority has been partly exercised
The principal cannot revoke the authority given to his agent after the authority has been partly exercised, so far as regards such acts and obligations as arise from acts already done in the agency.
Illustrations
(a) A authorizes B to buy 1,000 bales of cotton on account of A, and to pay for it out of A's moneys remaining in B‟s hands. B buys 1,000 bales of cotton in his own name, so as to make himself personally liable for the price. A cannot revoke B's authority so far as regards payment for the cotton.
(b) A authorizes B to buy 1,000 bales of cotton on account of A, and to pay for it out of A's moneys remaining in B's hands. B buys 1,000 bales of cotton in A's name, and so as not to render himself personally liable for the price. A can revoke B's authority to pay for the cotton.
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- 201 Termination of agency
- 202 Termination of agency, where agent has an interest in subject-matter
- 203 When principal may revoke agent's authority
- 204 Revocation where authority has been partly exercised
- 205 Compensation for revocation by principal, or renunciation by agent
- 206 Notice of revocation or renunciation
- 207 Revocation and renunciation may be expressed or implied
- 208 When termination of agent's authority takes effect as to agent, and as to third persons
- 209 Agent's duty on termination of agency by principal's death or insanity
- 210 Termination of sub-agent's authority
