Summary

Clark's Executors v. Van Riemsdyk…

He is not informed that this is a power not confided to him; that he has mistaken the extent of his authority; that his principals are not bound by his drafts. He goes again to India in the full belief that his conduct had met with perfect approbation, and that no intention existed to throw upon him the bills he had drawn on Amsterdam for monies with which he had purchased the second cargo. In this belief the proceeds of the wines, placed in the hands of Van Riemsdyk, are drawn out of his hands and invested in another return cargo for the owners of the Patterson.
Source: Wikisource

Clark's Executors v. Van Riemsdyk…

In the year 1805, John Innes Clark and Munro, Snow and Munro, being joint owners of the ship Patterson in equal moieties, projected a voyage to Batavia, and appointed Benjamin Munro, one of the house of Munro, Snow and Munro, supercargo. The ship carried out some goods on account of the owners, and other goods on account of different persons, the whole to be invested in a return cargo, on the profits of which the ship owners were to receive 45 per cent.
Source: Wikisource

Clark's Executors v. Van Riemsdyk…

It asserts that Munro drew bills without authority from his owners, but does not assert that his owners never confirmed his acts. It will not be denied that the acts of an agent, done without authority, may be so ratified and confirmed by his principals as to bind them in like manner as if an original authority had existed. The application of this principle to the case at bar is as little to be denied as the principle itself. The transactions which have been urged to show an original authority to draw the bill in question, will be recollected without being recapitulated.
Source: Wikisource

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