There is an important question relating to the liability of one of
these agents or subagents in the event of the negligent performance of
the duty; which is responsible? Generally, it is said, if the general
agent appoints a subagent he is nevertheless responsible for his act
There is an important question relating to the liability of one of
these agents or subagents in the event of the negligent performance of
the duty; which is responsible? Generally, it is said, if the general
agent appoints a subagent he is nevertheless responsible for his act.
Suppose a street contractor employs a subagent to repair a street and
he digs a hole and improperly guards it and some one falls into the
place and is injured, can the person thus injured look to the
contractor or to the subcontractor for compensation for his injury?
The contractor is liable in such cases. It may be added, however, that
although he is liable to the person injured, he may be able to recover
of the subcontractor or subagent. But this rule does not apply to the
banks in every State. In some of them the first bank in which the
cheque was deposited is liable for the negligence of others that may
be afterward employed in collecting it, and this rule prevails in the
federal courts. In a larger number of States the first bank fully
performs its duty in selecting a proper or reputable agent, and in
sending the cheque to it for collection. Should the second or subagent
be neglectful, the depositor of the cheque could compel that agent,
and not the first, to make its loss good.
Although no ice is used in the modern cold-storage plant, yet the ice
has become a very valuable by-product
Although no ice is used in the modern cold-storage plant, yet the ice
has become a very valuable by-product. Since all the facilities for
its manufacture are at hand it has become a matter of commercial
expediency to employ them to the company”s profit in the production
and sale of a commodity indispensable to modern life.
There is another clause relating to the sale of ordinary merchandise
There is another clause relating to the sale of ordinary merchandise.
The law says that _contracts for ordinary merchandise must be in
writing if the amount is over_ $50. In some States the amount is $35.
Long ago it was decided that this statute did not relate to contracts
for work, and they therefore must be carried out or fulfilled in the
same manner as though no statute existed, _for work is not
merchandise_.
Many of the warehouses find it advantageous to do a banking business
in connection with the storage features
Many of the warehouses find it advantageous to do a banking business
in connection with the storage features. Very frequently, for the
convenience of the importer, goods are consigned to the warehouse and
sent subject to a sight draft for the amount of the invoice. The
warehouse company will pay the draft with the exception of about
twenty per cent., which the importer is expected to furnish. If the
duty is paid then the value upon which a loan is estimated is based
upon the market value of the goods in this country. After the draft
has been satisfied the goods are placed in the stores of the warehouse
company subject to the customs and storage charges. The amount
advanced by the company bears interest at current money rates. In
illustration let us suppose bonded goods to be shipped and invoiced at
$10,000, customs duty $4000, and the goods consigned to a bonded
warehouse. The draft ($10,000) is sent to the warehousing company,
which advances $8000, and together with the $2000 received from the
importer pays the draft. The $8000 loan made by the company is then
charged to the importer at the usual interest rate, and when the
borrower withdraws his merchandise from storage he will have to pay
the government the $4000 customs duty and pay back his loan of $8000
to the warehouse company, together with interest and storage charges.
If any portion of the goods stored is withdrawn for use in the
business of the importer, the company will rebate a proportionate
amount of the interest. If goods decline in value as collateral in
storage the company will demand additional margin for its protection.
If goods appreciate in value the loan may be increased. The market
value of the goods is ascertained by the appraisement of some expert,
who receives a commission for his services.
9
9. CHINA. (_a_) Give an account of China”s size, population, and trade
resources. (_b_) Give an account of China”s present foreign trade.
(_c_) Give an account of the trade possibilities of China, and show in
what manner an increase of the foreign trade of China is most likely
first to occur.
This rule also applies if tools, machinery, etc
This rule also applies if tools, machinery, etc., become defective and
the employe continues to work after the defects are found out. Of
course, every one knows that tools wear out and machinery becomes
weaker, and that is one of the natural consequences of using them. And
so it is regarded as one of the risks ordinarily taken by an employe,
and therefore he can get nothing whenever he is injured through the
operation of a defective machine caused by the natural wear and tear
of time.
2
2. Any number of persons, not less than five, may form an association
for banking purposes, to continue not more than twenty years, but
renewable for twenty years with the approval of the comptroller.
West Australia (population 162,394), the largest of all the Australian
colonies, has only been recently settled, and its constitution as a
self-governing colony dates only from 1890
West Australia (population 162,394), the largest of all the Australian
colonies, has only been recently settled, and its constitution as a
self-governing colony dates only from 1890. A large part of its area
has never been explored, and a large part is known to be scrub desert.
But there is scarcely any part of it, even of its ’scrub’ areas, but
that will support sheep when once artesian wells have been sunk, and
large portions of the colony, especially along the coasts, are as
fertile as need be. And the climate, though very dry, is exceedingly
healthful. PERTH (43,000) is the capital. ALBANY is the principal
port.
What, then, ought a buyer to do in purchasing a horse, for example, in
order to guard himself against the unwelcome discovery of disease or
other defect? Clearly, _he ought to require the seller to give him a
warranty_
What, then, ought a buyer to do in purchasing a horse, for example, in
order to guard himself against the unwelcome discovery of disease or
other defect? Clearly, _he ought to require the seller to give him a
warranty_. A proper way is, if the transaction be an important one, to
have the warranty in writing and signed by the seller. It need not be
very long; a few words usually are enough.