Any instrument within the scope of his authority, by which an agent intends to bind his principal, does bind him if such intent is plainly inferable from the instrument itself.

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Source: CivC 1877, § 1373; CL 1887, § 3996; RCivC 1903, § 1692; RC 1919, § 1274; SDC 1939, § 3.0304.