38. Authority of agent to receive payment.

Payment made in the ordinary course of business to the agent of the creditor discharges the debt if the agent is authorised or held out as having authority to receive payment1. An agent authorised to sell, however, does not necessarily have implied authority to receive payment for his principal2. Where it is in the ordinary course of business for the agent to receive payment for his principal, such payment should, generally speaking, be received in cash3. Where, however, a cheque taken by the agent has been paid the transaction is equivalent to payment in cash4. To restrict the authority

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