Reynolds v. Witte

Citations

• 13 S.C. 5
• 1880 S.C. LEXIS 13

Syllabus

<p>3. Where money of a principal was lent by his agents and the notes of the borrower were secured by a deposit of negotiable collaterals which were fraudulently misappropriated by the agents, the principal is responsible for their value.</p> <p>2. A principal is civilly responsible for the fraudulent act of his agent, where the act is done in the course of the agency, and by virtue of the authority as agent.</p> <p>3. The borrower having offered to pay the notes at their maturity,'the principal is liable for the market value of the collaterals at that date.</p>