This section is from the book "The Law Of Contracts", by Theophilus Parsons. Also available from Amazon: The law of contracts.
T3 the agent may do all that is necessary to realize his interest and make it beneficial to himself. Such an agency is not revocable at the pleasure of the principal in his lifetime, (e) and if the agent dies the agency passes over to his representatives. (f) To determine whether the agency be thus irrevocable, it is an important if not a decisive question, whether the act authorized could be performed by the agent in his own name, or only by him as an agent, and in the name of the principal. In the first case, if an interest were coupled with the agency, the authority would survive the death of the principal, and the agent might perform * the act in the same manner after the death as before. In the latter case, as he could no longer use the name of the principal, for the obvious reason that one who is dead can no longer act, it would seem that his right must be limited to that of requiring the representatives of the deceased to perform the act necessary for his protection.
Unless the authority is thus coupled with an interest, it would seem the word "irrevocable " does not take away the power of revocation. (ff)
The revocation is not prevented by any interest in the money to come from the exercise of the authority; 1 but the interest must be in the property on which the power is to be exercised. (fg)
The authority is revoked by the death of the agent.2 Hence, by the exercise of the power. - In Smart v. Sandars, 5 C. B. 895, 917, Wilde, C. J., said that, " Where an agreement is entered into on a sufficient consideration, whereby an authority is given for the purpose of securing some benefit to the donee of the authority, such an authority is irrevoca-ble. This is what is usually meant by an authority coupled with an interest: " - that is, irrevocable except by the death of the principal; for the dictum, as the whole case shows, is to be taken in connection with the doctrine, understood still to prevail in England, on the authority of Lord Ellenborough, in Watson v. King, 4 Camp. 272, that death revokes even a power coupled with an interest. See ante, note (y). A warrant of attorney to confess judgment is not revocable; and though determinable by death, yet, at common law, as a judgment entered up during any term, or the subsequent vacation, related to the first day of such term, a warrant of attorney might be made available after the death of the principal, by entering up judgment within the term and vacation in which the death occurred. Lord Holt, Oades v. Woodward, 1 Salk. 87; Fuller v. Jocelyn, 2 Stra. 882; Heapy v. Parris, 6 T. R. 368.
(e) Gaussen v. Morton, 10 B. & C. 731; Walsh v. Whitcomb, 2 Esp. 565; Allen v. Davis, 8 Eng. (Ark.) 29. See also Mar-field v. Goodhue, 3 Comst 62; Houghtal-ing v. Marvin, 7 Barb. 412; Wilson v. Edmonds, 4 Foster (N. H.), 517.
(f) 2 Kent Com. 643.
(ff) Chambers v. Seay, 73 Ala. 372; Frink v. Roe, 70 Cal. 296; Walker v. Denison, 86 Ill. 142; McGregor v. Gardner, 14 Ia. 326; Attrill v. Patterson, 58 Md. 226; Blackstone v. Buttermore, 53 Pa. 266.
(fg) Hartley's Appeal, 53 Penn. St. 202; Barr v. Schroeder, 32 Cal 609; Blackstone v. Buttermore, 53 Penn. St. 286.
1 As by way of a commission, in the surplus proceeds of land to be sold. Hawley v. Smith, 45 Ind. 183. Or by way of payment for collecting a debt. Flanagan v. Brown, 70 Cal. 254.
2 Adriance v. Rutherford, 57 Mich. 170. Similarly the death of an agent with the if a firm be the agent, and one of them dies, his estate cannot be charged for the subsequent misuse of the authority by the surviving partner. (fh)
 
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