Wilson v. Wilson-Rogers

Citations

• 181 Pa. 80
• 37 A. 117
• 1897 Pa. LEXIS 507

Syllabus

<p>Principal and agent — Attorney in fact — Corporation—Transfer of stock.</p> <p>Possession by ail agent of a letter of attorney to transfer stock of a corporation is no evidence of implied or apparent authority in him to exercise any powers other than those given in the instrument itself.</p> <p>Principal and agent — Corporation—Transfer of stock — Power of attorney — Husband and wife.</p> <p>An attorney in fact, acting under a general power of attorney for the sale of corporation stock, is not authorized to sell the same in part or in full payment and satisfaction of his individual indebtedness, without the knowledge, precedent authority or subsequent ratification of his principal; and it is immaterial that the person holding the power of attorney is the husband of the owner of the stock.</p>