2020 Georgia Code
Title 10 - Commerce and Trade
Chapter 6 - Agency
Article 3 - Rights and Liabilities of Principal to Third Persons
§ 10-6-57. Payment to Agent Not Producing Obligation Made at Debtor's Risk; Proving Agent's Authority
Where money is due on a written evidence of debt, payment to an agent of the creditor who fails to produce the obligation shall be at the risk of the debtor. Nonproduction of the security shall rebut the implication of authority arising from the agent's employment, and it must be otherwise established.
(Civil Code 1895, § 3006; Civil Code 1910, § 3578; Code 1933, § 4-308.)
RESEARCH REFERENCES
ALR.
- Making paper payable to agent as charging drawer with loss due to agent's misappropriation, 8 A.L.R. 304.
Trustee in mortgage securing bonds as agent of obligor or holder of bonds as regards deposit or payment in respect of principal or interest, 90 A.L.R. 467; 96 A.L.R. 1233.
Payment to payee, indorser, or guarantor of bill or note not in possession thereof, 103 A.L.R. 653.
Authority, or apparent authority, of agent to receive payment for commodities which he has authority, or apparent authority, to sell, or for which he is authorized, or apparently authorized, to find a market, 105 A.L.R. 718.
Implied or ostensible authority to receive payments of principal of one who has authority to receive payments of interest, 111 A.L.R. 578.
Authority of agent who delivers commercial paper or other obligation to third person for collection, to receive payment of proceeds from the latter, so as to preclude principal's right to enforce payment of proceeds, 163 A.L.R. 1209.
Payment to broker or agent authorized to sell real property, as payment to principal, 30 A.L.R.2d 805.
