Bought And Sold Notes

Notes or memoranda of the purchase and sale of goods, made by the broker efiecting it.* When a broker is employed to buy and sell goods, he is accustomed to give to the buyer a note of the sale, commonly called a sold note; and to the seller a Mke note, commonly called a bought note, in his own name, as agent of each, and thereby they are respectively bound, if he has not exceeded his authority.

Story on Agency ^ §28.