Schick v. Warren Mortgage Co.

Citations

• 86 Kan. 812
• 122 P. 872
• 1912 Kan. LEXIS 395

Syllabus

<p>syllabus BY THE COURT.</p> <p>Broker — Agent of Borrower and Lender — Embezzlement — Equal Losers. Where .two persons are equally, or about equally, interested in the application of a sum of money in the possession of one of the two to the payment of certain mortgages, and neither ha® any right to the money except to have it so applied, and each party appoints or acquiesces in the appointment of the same person to receive the money and aPPU it to such payment and nothing is left to the discretion of such person; Held, (1) that the person so appointed is equally the agent of each of the parties to receive the money and make the payment; (2) if such agent accepts such appointment and receives the money and embezzles it and loss results thereby, such loss falls equally upon each of the parties interested in the payment which tlie agent failed to make.</p>