Kulp v. Markley

Citations

• 267 Pa. 406
• 110 A. 78
• 1920 Pa. LEXIS 879

Syllabus

<p>Principal and. agent — Mortgage—Payment—Embezzlement by agent.</p> <p>Where a woman entrusts a sum of money to an agent for investment in a mortgage on a designated property, and the agent agrees to pay an existing but smaller undue mortgage on the property out of the funds entrusted to him, have it satisfied and pay over the balance to the mortgagors, and the mortgagors execute the mortgage, which is duly recorded, and receive from the agent the amount coming to them, but the agent fails to pay the other mortgage and satisfy it and embezzles the sum entrusted to him for the purpose, the woman must suffer the loss in the absence of evidence of any authority given to the agent by the mortgagee in the smaller and undue mortgage, to accept moneys in payment of the same at a time when it was not due and payable.</p>