Norris v. Tayloe

Citations

• 49 Ill. 17

Syllabus

<p>1. Agency—liabilities of agent to principal—agent in treating with principal— must disclose all things connected with his agency. Where a party accepts the position of an agent to take charge of the lands of his principal, collect the rents and royalty, and pay the taxes, a fiduciary and confidential relation is thereby created in regard to everything relating to such lands; and in treating with his principal for the property, the agent is bound to make the fullest disclosure of all matters connected therewith, within his knowledge, which it is important for his principal to know, in order to treat understandingly.</p> <p>2. Same—concealment of facts by an agent—avoids the sale. And when an agent, occupying such a rela'tion to his principal, purchases the property at a greatly inadequate price, by concealment of facts and information, relating thereto, which he was bound to disclose, the sale will be set aside.</p> <p>3. Same—of a party purchasing from the agmt with knowledge of the agent’s fraud. And when a party purchases from the agent, a portion of the property so purchased from the principal,' with full knowledge of the transactions between the agent and his principal, the sale cannot be sustained.</p>