law: The Joint-stock Companies Act, 1857
  XLVII. Promissory Notes, Bills of Exchange, and Hoondees.-
  A Promissory Note, Bill of Exchange, or Hoondee shall be deemed to have been made, accepted, or endorsed on behalf of any Company registered under this Act, if made, accepted, or endorsed in the name of the Company by any person acting under the express or implied authority of the Company.