720. Implied representations that representor is acting in a certain character.

Where a person, in the course of a transaction, assumes a certain character by conducting himself as if he possessed it, he is deemed to represent by such conduct that he does in fact fill that character. Thus, by the acts of sending bought and sold notes to the other party, and guaranteeing the performance of the contract, a person represents to the other party that he has a principal1; and the cases of what is usually treated as implied warranty of authority by an agent