Kraus v. Dowell

Citations

• 119 Wash. 90
• 204 P. 795
• 1922 Wash. LEXIS 721

Syllabus

<p>Principal and Agent (35) — Powers of Agent — Authority to Collect. A loan agent Is shown to be the agent of the borrower, with authority to collect principal as well as interest, of a mortgage in which it was mortgagee, although it did not have possession of the mortgage note, where its practice was to make loans in its own name, indorse them to its customers, collect And remit interest, and the borrower was familiar with the practice, took a note without recording any assignment and had no dealings with the mortgagor, until after the agent had collected part of the principal and become insolvent.</p>