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Free Books / Real Estate / American Law Of Real Estate Agency / | ![]() |
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Sec. 255. Broker To Procure Loan, Not Thereby Authorized To Collect Principal Or Interest |
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This section is from the book "American Law Of Real Estate Agency", by William Slee Walker. Also available from Amazon: American law of real estate agency.
The fact that a loan broker negotiates a loan does not authorize him to collect either principal or interest, though the security be payable at his office; nor does the fact that he has authority to collect interest authorize him to collect the principal. Hefferman v. Botteler, 87 Mo. App. 316; Ortmeier v. Ivory, 208 I11. 577, 70 N. E. 665. See also Secs. 257, 352, 356, 566.
 
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