Colombian Commercial Code - Decree 410 of 1971 - Book IV - Of Contracts and Corporate Obligations - Title XIII - The Mandate - Chapter II - Rights and Duties of the President and Principal - From: Section 1266 to: 1278 Art
CHAPTER II Rights and duties of the president and the principal Section 1266 .- The president shall not exceed the limits of your order. The acts done beyond these limits are only binding on the agent, unless the principal ratifies them. The president may withdraw from the instructions, when unknown circumstances that can not be communicated to the client, reasonable grounds to suspect that he would have given approval. Section 1267 .- In cases not covered by the principal, the President shall suspend the execution of his order, while referring to the former. But if the business or state of emergency does not allow any delay or if the president is empowered to work there at will, act according to his prudence and in tune with the customs of merchants diligent. Section 1268 .- The representative must keep the client on the progress of the business, pay itemized and justified in the management and give everything you have received because of the ma...