Francis v. Kerker

Citations

• 85 Ill. 190

Syllabus

<p>1. Sale—by agent to his own firm. Where one sells corn of a certain grade, with an agreement, if it is not of that grade, the purchaser may sell the same on the market for the best price he can get, and account for the proceeds, if the purchaser sells the same, he will be the agent for the original seller, and is not authorized to sell the same to a firm of which he is a member, and if he does, he will be treated as the purchaser, with a right to</p> <p>deduct the difference, in value between the corn delivered and the contract price, provided the original seller does not affirm such sale.</p> <p>2. Agent—ratification of sale to Ms firm. If an agent sells to his own firm, the principal has an election to adopt the act, and if he deliberately and freely ratifies the act of the agent, or acquiesces in it for a great length of time, it will become obligatory on him, not by its own intrinsic force, ■ but because he waives the protection given him by the law.</p> <p>3. Where an agent sold corn of his principal to his own firm, and gave the principal a statement thereof, and no objection was made for two years, and the parties had a settlement of accounts, in which no allusion was made to the transaction, it was held, that the principal thereby ratified the sale so made by the agent.</p>