Sec. 21. Signature by procuration; effect of. - 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.
HOW SIGNATURE PER PROCURATION IS MADE
“Luis Martin Tan, Per Procuration: Ryan Teehankee” on which Luis Tan is the principal while Ryan Teehankee is the agent
EFFECT OF SIGNATURE PER PROCURATION
Constitutes a warning that an agent has a limited authority
A person who takes the instrument so signed is bound at his peril to inquire into the extent and nature of the agent’s authority, and this applies to every person
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