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.

     History: En. Sec. 2753, Civ. C. 1895; re-en. Sec. 5293, Rev. C. 1907; re-en Sec. 7808, R.C.M. 1921; Cal. Civ. C. Sec. 2029; Based on Field Civ. C. Sec. 1048; re-en. 7808, R.C.M. 1935; R.C.M. 1947, 2-404; amd. Sec. 936, Ch. 56, L. 2009.