THE EFFECT OF THE A con sideration of the effect of the relation of principal and agent, the title of this chapter, properly includes the rights, duties and liabilities arising out of the relation, which will be the subject of our next chapter. Hence, it is but a partial consideration of the effect of the re lation which this chapter presents. The most notice able effect, and, in fact, the purpose of agency, is to invest the agent for the time being with the authority and power of the principal. So that a consideration of the nature, extent and effect of this authority, to gether with the rules governing a proper execution of the delegated powers will bring us to the topics to be considered in the next chapter. Hence, the present chapter will be devoted to a consideration of the agent's authority, and the nature, effect and execution of such authority.