This section is from the book "American Law Of Real Estate Agency", by William Slee Walker. Also available from Amazon: American law of real estate agency.
That a purchaser of negotiable mortgage securities, which are made payable at the office of the loan company negotiating them, knows that the loan company solicits payment of them regularly as they fall due, and that it interests itself in the payment of taxes and insurance to protect the security, does not make such loan company his agent to collect, nor charge him with the moneys so obtained, where he has no knowledge of any claim of authority from him or of ownership of the securities, and he retains possession of them, and places them in the hands of another agent with instructions to formally demand payment. Bradbury v. Kinney, 63 Neb. 754, 89 N. W. 257. See also Secs. 255, 352, 356, 566.
 
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