This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 570.— A solicitor or trustee deposits a client's money in a private bank, without instructions from the parties interested. In case of loss would he be held personally responsible?
Answer.—This would depend altogether on the facts. If, e.g., there were no better place of deposit available, and the alternative would be to retain the money in his own house at risk of robbery, and if the other circumstances made the course one which any prudent man would adopt in dealing with his own moneys, the trustee would probably not be under personal responsibility.