59-9-8Ostensible authority.

A factor has ostensible authority to deal with the property of his principal as his own in transactions with persons not having notice of the actual ownership.

Source: CivC 1877, § 1389; CL 1887, § 4012; RCivC 1903, § 1708; RC 1919, § 1294; SDC 1939, § 3.0603.