Where a principal by any conduct on his part allows or enables his agent to appear as owner of any property belonging to the principal, the principal is bound by any sale, pledge1 or other disposition of that property by the agent to the extent of the disposition, as regards all persons dealing for valuable consideration with the agent, provided that at the time of the disposition they had no notice of the principal's title and believed the agent to be the owner2. It is not, however, sufficient for the principal merely
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