30-11-604. Liability of factor under guaranty commission.
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/mt/title-30/chapter-11/part-6/30-11-604·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
30-11-604 . Liability of factor under guaranty commission. A factor who charges the principal with a guaranty commission upon a sale assumes absolutely to pay the price when it falls due as if it were a debt of the factor's own and not as a mere guarantor for the purchaser. The factor does not assume any additional responsibility for the safety of the remittance of the proceeds.