This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 561.— Referring to Question 226, Article 1706 of the Civil Code of Lower Canada provides that " an agent employed to buy or sell a thing cannot be the buyer or selle of it on his own account." Does not a transfer or acceptance of stock imply a sale or purchase ? "What then if a hank allows A to transfer stock to himself in trust, or as attorney?
Answer.—The article quoted has reference only to an agent's powers as between himself and his principal. It has no bearing on the point in the question.