Also if the principal
is under age, or a lunatic, or otherwise incompetent to contract, the
agent is liable.
Sec.9. A _broker_ is an agent employed to negotiate sales between parties
for a compensation in the form of a commission, which is commonly called
_brokerage_. His business consists chiefly in negotiating exchanges; or
in buying and selling stocks, goods, ships, or cargoes; or in procuring
insurances and settling losses; and as he confines himself to one or the
other of these branches, he is called an exchange broker, stock broker,
insurance broker, &c. A broker differs from a factor. He has not the
custody of the goods of his principal. He is merely empowered to effect
the contract of sale; and when this is done, his agency ends. If a
broker executes his duties in such a manner that no benefit results from
them, or is guilty of gross misconduct in selling goods, he is not
entitled to a commission or compensation.
Sec.10. A _lien_, as the claim of a factor upon goods intrusted to him for
sale, has been noticed. (Sec.3.) The right of lien extends to others than
factors. It is intended also for the benefit of manufacturers,
mechanics, and other persons carrying on business for the accommodation
of the public. A tailor has a lien upon the garment made from another's
cloth until he is paid for the making; a shoemaker upon the shoes made
from another's leather; a blacksmith upon the horse he has shod; an
innkeeper upon the horse or goods of his guest; and common carriers upon
the goods they transport. But they cannot hold the property for any
other debt; nor can they sell it to satisfy their claim. Whenever a
person allows property to go out of his possession, he loses his lien.
Chapter LIX.
Partnership.
Sec.1. A partnership is an association formed by contract between two or
more persons, for joining their money, labor, or skill, in lawful
business, the profits to be divided and the loss to be borne by the
partners in certain proportions. It is a partnership if one furnishes
the funds and the other performs the labor; or if, when no money is
necessary, each agrees to do his share of the labor. A partnership or
association of this kind is denominated a _firm_, or _house_.
Sec.2. The act of any one of the firm is considered the act of all, and
binds all; and either of them is liable for all the debts. But if a bill
or note is drawn by one partner in his own name only, without appearing
to be on p
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