6 Anne, c. 16, and 57 Geo. 8, c. 60, brokers in London must be

admitted by the mayor and aldermen, paying ВЈ5 on admission, and

a like sum annually, under a penalty of ВЈ100 ; in pursuance of

в–  which act, regulations were afterwards made by the court of mayor

and aldermen concerning the admission of brokers, whereby they

are required to take an oath, and enter into a bond for the observ-

ance of certain regulations, respecting which, and the mode in

which the bond itself is construed, the authorities cited in margine

may be consulted. (p)f

(Z) 9 Edw. 4. pi. 59 ; Bro. Corp. 2-t, 34; 1 Roll. Abr. 514; 1 Mod. 18. Arnold v.

Maj^or of Poole, 4 M. <fe Gr. 860.

{m) Plowd. 91; Vin. Abr. Corp. K. R. v. Bigg, 3 P. Wms. 419. See stat. 3 <fe 4

Anne, c. 9 ; Bro. Corp. 47, per Townsend, J. Ibid. 48, per Littleton, J., 3 Lev. 127 ; 3

Salk. 191-2. See stat. 6 Geo. 4, c. 16, s. 46. See also Dunstan v. Imperial Gas Light

Compy., 3 B. & Ad. 125, and Dean and Chapter of "Windsor v. Gover, 2 Wms. Saund,

305, b.

{n) Wilks V. Elliss, 2 H. Bl. 555.

(o) Janson v. Green, 4 Burr. 2, 104. See also as to who are brokers, Milford v,

Hughes, 16 Mees & "Wels, 174.

{p) 1 Meriv. 156, 157; 1 Holt, N. P. C. 431-433; 7 Taunt. 260; 1 Moore 6; 2

Stark, 14 ; 1 Nev. &, Mann. 492.

* The more liberal rule of the American courts is stated in the note to ehaptei

•jn corporations, page 142.

в– j- There is a vast variety of forms of mercantile agency. With some modifi

PRINCIPAL AXD AGEXT. 151

Definition and character of Agent.

It is decided that a person who does work iu London as a

broker, without being duly qualified under the above acts, cannot

recover any compensation, (q)

(q) Cope V. Rowlands, 2 M. & "W. loY.

cations, growing out of the business in which they may be employed, the same gene^

ral principles regulate the rights, duties, and responsibilities of all agents, for what-

ever purpose constituted.

Judge Story, iu his work on Agency, considers particularly six classes of com-

mercial agents: auctioneers, brokers, factors, ship husbands, masters of ships, and

partners. The peculiar principles applicable to each of these relations, except that

of brokers and factors, are discussed in different parts of this treatise. And in refer-

ence to these, the present seems a proper place to enlarge upon the brief statements

m the text. Tlie distinction between them cannot be stated with more accuracy,

perspicuit3r, or comprehensiveness, than in the language of Mr. Justice Holroyd, in

the leading case of Baring et al. v. Come, and 2 Barn. & Aid. 137. "A factor who

lias the possession of goods, differs materially from a broker. The former is a person

to whom goods are sent or consigned, and he has not only tiie possession, but in con-

sequence of its being usual to advance money upon them, has also a special property