Cottom v. Holliday

Citations

• 59 Ill. 176

Syllabus

<p>1. Evidence—declarations of a party—whether admissible in his favor. Declarations made by one of two contesting parties, out of the presence of the other, are inadmissible as evidence in his favor.</p> <p>2. Agent—of his duty to his principal, and the rights of the latter in respect to the agency. An agent must not put himself, during the continuance of his agency, in a position adverse to that of his principal. To the latter belongs the exercise of all the skill, ability and industry of the agent.</p> <p>3. If a party employ an agent to make a purchase of land, he is entitled to all the skill, ability and industry of such agent to make the purchase on the best terms that can be had, and is entitled to the property at the price ■which the agent pays. The agent can not avail himself of any advantage his position may give, to speculate off his principal. All the profits or advantages gained in the transaction belong to the principal. An agent is not permitted, without the assent of his principal, to acquire an interest in the subject matter of the agency, adverse to that of his principal.</p> <p>4. If an agent make any profits in the case of his agency, by any concealed management in either buying or selling, or other transaction on account of his principal, the profits will belong exclusively to the principal.</p> <p>5. Same—liability of, when acting as agent for both buyer and seller, and of the rights of the buyer in such case. While a person can not properly be the agent of both parties, buyer and seller, yet if he accepts the position of agent for the buyer, without disclosing the fact that he is agent for the seller, he can not afterwards repudiate such position to shield himself from liability to the buyer, on the ground that lie was agent for the seller. Having assumed the relation of agent for the buyer, he must be held to a strict performance of the duties, and to all the liabilities the relation imposes.</p> <p>6. Though the buyer may, in a proper case,