Bachrach v. Fleming

Citations

• 269 Pa. 350
• 112 A. 445
• 1921 Pa. LEXIS 563

Syllabus

<p>Principal and agent — Purchase of real estate — Profit by agent— Faithlessness of agent — Equity—Bill for conveyance of real estate ■ — Trustee ex maleficio — Appeal—Review.</p> <p>1. An agent to purchase cannot be allowed to purchase for himself, except as his principal assents. He can acquire nothing by an adverse possession, even though he contribute of his own means or credit to effect it; the product will belong to the principal exclusively.</p> <p>2. Where an agent has broken faith with his principal and has been discharged from the business in which he was engaged, he may not, after the termination of the agency, reap the profits of his bad faith to his employer’s disadvantage; whatever he acquired while acting in the agency, flows to his principal.</p> <p>3. A finding of fact in an equity case, supported by sufficient evidence, that an agent in purchasing property was acting for himself individually, and not for a corporation, will not be reversed on appeal.</p> <p>4. A corporation, of which plaintiff in a bill in equity was a. member (the bill being a proceeding to compel conveyance of real estate fraudulently acquired by plaintiff’s agent), is estopped from asserting any rights in the property, by notice of the proceeding.</p>