The Law of Debtor And Creditor to Which is Subjoined a Table of the Courts in E

Cover The Law of Debtor And Creditor to Which is Subjoined a Table of the Courts in E
The Law of Debtor And Creditor to Which is Subjoined a Table of the Courts in E
Charles Francis Trower
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Principal V.
third persons.
Third persons V.
principal.
account, the principal may bring his suit in Equity for an account (y). But the mere relation of principal and agent is not sufficient ground for equitable relief (i^-); though since the recent Common Law Procedure and Evidence Acts, the objects to be attained by such a suit, — viz. , discovery of books and papers, and the defendant's evidence, — may in a great measure be obtained at Law.
Money received by or deposited with a partner as ag
...ent, for a particular purpose, for the benefit of the firm, and not applied by him to it, becomes a debt proveable by the firm, as a principal, under the agent's bankruptcy {x).
If such a case of money had and received for the use of the principal can be brought under the notion of a trust, a Bill in Equity will lie, though the party might have had his remedy also at Law {y).
The chief remedy of the agent against the principal is — L By way of action or set-off, at Law, for his commission, advances made by him for his principal in the regular way of business, and his regular expenses.


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