472 ARTICLE 13

An. Code, 1924, sec. 37. 1912, sec. 37. 1904, sec. 37. 1898, ch. 1.19.

37. No person is liable on the instrument whose signature does not
appear thereon, except as herein otherwise expressly provided. But one
who signs in a trade or assumed name will be liable to the same extent as
if he had signed in his own name.

An. Code, 1924, sec. 38. 1912, sec. 38. 1904, sec. 38. 1898, ch. 119.

38. The signature of any party may be made by a duly authorized
agent. No particular form of appointment is necessary for this purpose;
and the aiithority of the agent may be established as in other cases of
agency.

Evidence of the authority of an attorney to endorse and collect a check, held not
conclusive, but properly submitted to the jury. Power to an agent to execute or en-
dorse commercial paper is strictly limited and will never be lightly inferred; proof
of agency. Building Association v. Fisher, 140 Md. 670.

An. Code, 1924, sec. 39. 1912, sec. 39. 1904, sec. 39. 1898, ch. 119.

39. Where the instrument contains, or a person adds to his signature,
words indicating that he signs for or on behalf of a principal, or in a repre-
sentative capacity, he is not liable on the instrument if he was duly author-
ized; but the mere addition of words describing him as an agent, or as
filling a representative character, without disclosing his principal, does not
exempt him from personal liability.

Where an officer of a corporation signs his name to a note after the name of the
corporation without any qualification or the addition of his official title, he is prima jade
personally liable. For the defense to prevail that the individual signed his name merely
to complete the signature of the corporation, the jury must find that such was the
understanding between the parties when the note was issued. Belmont Dairy Co. v.
Thrasher, 124 Md. 325. And see Knipp v. Bagby, 126 Md. 465.

This section does not under all circumstances impose liability on one who, without
authority, signs promissory note in representative capacity. Person signing as receiver
without authority not personally liable if payee and holder intended he should incur
no personal responsibility. Southern Supply Co. v. Mathias, 147 Md. 259.

A person who signs in a representative capacity without authority is not personally
liable if both parties so understand. Johnson Milling Co. v. Brown, 173 Md. 366.

An. Code, 1924, sec. 40. 1912, sec. 40. 1904, sec. 40. 1898, ch. 119.

40. A signature by "procuration" operates as notice that the agent
has but a limited authority to sign, and the principal is bound only in
case the agent in so signing acted within the actual limits of his authority.

An. Code, 1924, sec. 41. 1912, sec. 41. 1904, sec. 41. 1898, ch. 119.

41. The indorsement or assignment of the instrument by a corporation
or by an infant passes the property therein, notwithstanding that from
want of capacity the corporation or infant may incur no liability thereon.

An. Code, 1924, sec. 42. 1912, sec. 42. 1904, sec. 42. 1898, ch. 119.

42. Where a signature is forged, or made without authority of the
person whose signature it purports to be, it is wholly inoperative, and no
right to retain the instrument, or to give a discharge therefor, or to enforce
payment thereof against any party thereto, can be acquired through or
under such signature, unless the party, against whom it is sought to enforce
such right, is precluded from setting up the forgery or want of authority.

Word "precluded" in this section is synonymous with "estopped" and does not in-
clude ratification or adoption in their strict primary meaning. Estoppel precludes de-
fense of forgery. Home Credit Co. v. Fouch, 155 Md. 396.

As check paid on authorized endorsement of party intended to be designated as
payee, this section not material. Prayers. Lanassa v. Griswold, 151 Md. 32.