Montana Code 30-11-605. Principal’s consent needed to relieve factor from liability
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30-11-605. Principal’s consent needed to relieve factor from liability. A factor who receives property for sale under a general agreement or usage to guarantee the sales or the remittance of the proceeds cannot be relieved from responsibility for the sale or remittance without the consent of the factor’s principal.
Terms Used In Montana Code 30-11-605
- Property: means real and personal property. See Montana Code 1-1-205
- Usage: means a reasonable and lawful public custom concerning transactions of the same nature as those which are to be affected thereby, existing at the place where the obligation is to be performed, and either known to the parties or so well established, general, and uniform that the parties must be presumed to have acted with reference thereto. See Montana Code 1-1-206