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BOUGHT NOTE
(bouvier) | BOUGHT NOTE, contracts. An instrument in writing, given by a broker to the
seller of merchandise, in which it is stated that the goods therein
mentioned have been sold for him. There appears, however, some confusion in
the books, on the subject of these notes sometimes they are called sold
notes. 2 B. & Ald. 144 Blackb. on Sales, 89.
2. This note is signed in the broker's name, as agent of the buyer and
seller; and, if he has not exceeded his authority, the parties are thereby
respectively bound. 1 Bell's Com. (5th ed.) 435; Holt's C. 170; Story on
Agency, Sec. 28; 9 B. & Cr. 78; 17 E. C. L. R. 335; 5 B. & Ad. 521; 1 N. R.
252; 1 Moo. & R. 368; Moo. & M. 43; 22 E. C. L. R. 243; 2 M. & W. 440; Moo.
& M. 43; 6 A. & E. 486; 33 E. C. L. R. 122; 16 East, 62 Gow, R. 74; 1 Camp.
R. 385; 4 Taunt. 209; 7 Ves. 265. Vide Sold Note.
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