59-6-1. Rights and liabilities accruing to principal.
All rights and liabilities which would accrue to an agent from transactions within the scope of his actual or ostensible authority if they had been entered into on his own account, accrue to the principal.
Source: CivC 1877, §1366; CL 1887, §3989; RCivC 1903, §1685; RC 1919, §1267; SDC 1939, §3.0301.
See Cal Civ Code, §2330.