47. Effect of agent not disclosing principal.

47.     Effect of agent not disclosing principal.

An agent having authority to sign a bill of exchange cannot render his principal liable thereon by signing in his own name1. Subject to this rule and to any personal liability which the agent may incur by reason of acting in his own name2, an agent may exercise his authority, whether orally or by writing, without disclosing the name or existence of his principal3.