A person receiving a bill to get it discounted, has no authority to deal with it otherwise than for discount, and a deposit of it along with other bills, with a bill broker as a secunty for advances, the broker having notice that it was delivered for discount, is beyond the scope of the authority, and passes no property.
Citations:
[1862] EngR 69 (B), (1862) 3 F and F 219
Links:
Contract
Updated: 02 May 2022; Ref: scu.286235