Beugnot v. Tremoulet

Citations

• 111 La. 1
• 35 So. 362
• 1903 La. LEXIS 480

Syllabus

<p>PRINCIPAL AND AGENT—FUNDS FOR INVESTMENT-INTEREST.</p> <p>1. An agent who causes the party irom whom he has received funds to believe by his representations that they are profitably invested in his hands, and thus led him not to attempt to change the agency or withdraw the funds, cannot, no matter what his motives for the action may be when called on to account, urge that the funds were deposited all the time in bank, and that he was not called on to make investments.</p> <p>2. A person intrusted by the mother of a minor, living with her mother in Germany, with the interests and property of the minor in Louisiana, who deposits confusedly with his own the funds of the minor to his own account in the local hanks, checking against the same at will, obtains a basis for credit therefrom, and is chargeable with interest thereon. Legally considered, he uses the money for his own purposes, though the amount checked out may have left on deposit an amount sufficient to cover the funds belonging to the minor.</p> <p>(Syllabus by the Court.)</p>