(3.) An agent who discloses his principal in curs no liability to third parties if his acts are authorized or ratified and are lawful. From lia bility for unlawful acts he cannot screen himself by proving an express command of his princi pal, although such command renders the latter liable also. Every wrong-doer is personally re sponsible for his misfeasance. An agent will render himself liable ou a written contract under seal, or on a negotiable instrument, if he exe cutes it in his own name, although he intends to bind his principal thereby. In order to hind the principal, such instrument must he in his name, and purport to be his deed, or note, or bill. In the ease of other written contracts, the agent who diseloses his principal will not be bound, unless the intention of the parties that he should he bound is apparent from the writing and attendant circumstances. The agent may render himself liable to the third party by as suming to act for a principal without authority.
(4.) In the absence of express stipulations in the contract to the contrary, the principal is un der obligation to compensate the agent for his services: to reimburse him for all proper ex penditures on the principal's behalf, and to indemnify him against the consequences of authorized acts which he did not know, or which he was not hound to know, were 'unlawful. On the other hand, the agent is under obligation to act. with the utmost good faith toward the
principal, obeying his instructions, advancing his interests. and rendering full and true accounts of all transactions. An agent cannot delegate his authority to another, so as to escape respon sibility to the principal for that other's act:, without the express or implied assent of the principal. Nor, ordinarily, will a principal he bound by the acts of a sub-agent Nvho.e em ployment he has not authorized or ratified.
15.) Agency may he terminated by the agree ment of the parties, or by the principal'; revo cation of the appointment, or by operation of law. If terminated in either of the first two ways, notice must be given to those who have been aceustomed to deal with the agent. or the latter will still be able to subjeet the principal to liability to such persons; until notice of revocation, these have a right to suppose that the relation of principal and agent continnes. The death of either principal or agent, and the bankruptcy of the principal. furnish the most common example; of termination of agency by operation of 1;1w. and such termination is effective without notice. An agency which is •*coupled with an interest" (i.e., a vested prop erty right) in the subject-mattor of the agenev is revocable only by the mutual assent of both part ies.
Doctrines peculiar to special classes of agents are dealt with under the appropriate headings,