(e) Webster v. De Tastet, 7 T. P. 157; The Amiable Nancy, 3 Wheat. 560; Smith v. Condry, 1 How. 28; Tidewater Canal Co. v. Archer, 9 G. & J. 479.

(ee) Hardman v. Wilcox, 9 Bing. 382, n. (a).

1 But it is also true that an agent cannot recover compensation for an act done in violation of his duty or instructions. In re Owens, Ir. R. 7 Eq. 235, 424 , Hoyt v. Shipherd, 70 Ill. 309.

2 Or that the property has been recovered from the agent by a higher title than the

It may be regarded as a prevailing principle of the law, that an agent must not put himself, during his agency, in a position which is adverse to that of his principal. (/) For even if the honesty of the agent is unquestioned, and if his impartiality between his own interest and his principal's might be relied upon, yet the principal has in fact bargained for the exercise of all the skill, ability, and industry of the agent, and he is entitled to demand the exertion of all this in his own favor. (g) This principle is recognized to some extent at law; (h) but most cases of this kind come before courts of equity. Thus, an attorney may not take a gift from his client, although there be not the least suspicion of fraud. (i) But the rule is applied not so much to those who act as servants, or instruments for some * particular thing, as to persons whose employment is rather a trust than a mere service. Thus, one holding property for another, which it is his duty to sell, cannot himself purchase it; (k) 1 or if he be employed to buy, he cannot sell. (l) 2 A technical reason given for this is, that the same person cannot both buy and sell.3 But if employed to sell, where he would not

(/) Lees v. Nuttall, 2 Myl. & K. 819; Knave v. Ternot, 16 La. An. 132; Lees v. Nuttall, 1 Russ. & M. 53; Dunbar v. Tredennick, 2 Ball & B. 319; Norris v. Le Neve, 3 Atk. 38; Taylor v. Salmon, 4 Myl. & C. 134; Huguenin v. Baseley, 14 Ves. 273; Woodhouse v. Meredith, 1 Jac. & W. 24; Barker v. Marine Ins. Co. 2 Mason, 369; Church v. Marine Ins. Co. 1 id. 344; Parkist v. Alexander, 1 Johns. Ch. 394; Shepherd v. Percy, 4 Martin (n. s.), 267; Crook v. Williams, 20 Penn. St. 342; Coles v. Trecothick, 9 Ves. 234.

(q) Thompson v. Havelock, 1 Camp. 527; Diplock v. Blackburn, 3 id. 43.

(A) See infra, note (o).

(i) Lord Erskine, C, Wright v. Proud, principal's. Biddle v. Bond, 6 B. & S. 224; Western Transportation Co. v. Barber, 56 N Y. 544, 552. See also Snodgrass v. Butler, 54 Miss. 45.

13 Ves. 138; Montesquieu v. Sandys, 18 id. 308; see Ker v. Dungannon, 1 Dru. & War. 542; Middleton v. Welles, 4 Bro. P. C. 245. See also Cutts v. Salmon, 12 E. L. & E. 316; Holman v. Loynes, 27 id. 168; Broughton v. Broughton, 31 id. 587.

(k) Lowther v. Lowther, 13 Ves. 103; Wren v. Kirton, 8 id. 502; Morse v. Royal, 12 id. 355; Charter v. Trevelyan, 11 Cl. & F. 714; Bain v. Brown, 56 N. Y. 285; Jeffries v. Wiester, 2 Sawyer, 135.

(/) Lees v. Nuttall, 2 Myl. & K. 819; Taylor v. Salmon, 4 Myl. & C. 139; Bunker v. Miles, 30 Me. 431; Disbrow v. Secor, 58 Conn. 35; Keyes v. Bradley, 73 Ia. 589.

1 Not even if the price be stipulated, Ruckman v. Bergholz, 8 Vroom, 437; unless the principal assents after full information in regard to it. Ingle v. Hartman, 37 Ia. 274; Raymond v. Palmer, 41 La. Ann. 425. Nor can he sell it to his wife. Tyler v. Sanborn, 128 Ill. 136. Nor to a stranger, if he himself is to receive an interest. Miller v. Louisville etc. R. R. Co. 83 Ala. 274. But an agent after the termination of his agency may purchase the property sold by him as agent. Walker v. Derbv, 5 Bissell, 134; Walker v. Carrington, 74 Ill. 446. See also O'Reiley v. Bevington, 155 Mass. 72.

2 Not even in good faith and for the market price. Sharman v. Brandt, L. R. 6 Q. B. 720; Taussig v. Hart, 58 N. Y. 425; Tewksbury v. Spruance, 75 Ill. 187. - K.

3 A broker acting for both parties to a sale or exchange can recover compensation from neither, unless each knows his employment and agrees to pay. Rice v. Wood, 113 Mass. 133; Rowe v. Stevens, 53 N. Y. 621; Alexander v. N. W. Univ. 57 Ind. 466; Meyer v. Hanchett, 39 Wis. 419; 43 Wis. 246; notwithstanding his good faith, Scribner v. Collar, 40 Mich. 375; nor if in accordance with a custom or usage. Raisin himself convey or transfer the property as agent, because the principal would do this himself, still the agent cannot bind the principal to make the transfer to him or for his benefit, by any contract which he makes as his agent. As agent to sell, it is his duty to get the highest fair price; and this duty is incompatible with his wish to buy; and so, vice versa, if he is an agent to purchase. At one time it was understood to be necessary to show that a trustee had taken undue advantage of his position, in order to set aside a purchase by him of that which he was a trustee to sell, (m) But this is not so now. (n) At present, the rule in equity appears to be, that any act by an agent with respect to the subject-matter of the agency injurious to his principal, may be avoided by the principal. If an agent to sell become the purchaser, or if an agent to buy be himself the seller, a court of chancery, upon the timely application of the principal, will presume that the transaction was injurious, and will not permit the agent to contradict this presumption, - unless, indeed, he can show that the principal, when furnished with all the knowledge he himself possessed, gave him previous authority to be such buyer or seller, or afterwards assented to such purchase or sale. (o)

(m) Lord Loughborough, Whichcote v. Lawrence, 3 Ves. 750.

(n) Ex parte Lacy, 6 Ves. 627; Ex parte Bennett, 10 Ves. 385; Davoue v. Fanning, 2 Johns. Ch. 252; Brothers v. Brothers, 7 Ired. Eq. 150; Harrison v. McHenry, 9 Ga. 164; Sturdevant v. Pike, 1 Cart. (Ind.) 277; Mason v. Martin, 4 Md. 124.

(o) Lord Eldon, Coles v. Trecothick, 9 Ves. 234, 247; Lord Erskine, Lowther v. Lowther, 13 id. 103; Ex parte Hughes, 6 id. 617; Murphy v. O'Shea, 2 Jones Law, 422; E. I. Comp. v. Henchman, 1 Ves. Jr. 289; Ex parte Bennett, 10 Ves. 385; Oliver v. Court, 8 Price, 127; Fox v. Mackreth, 2 Bro. Ch. 400; The York Buildings Co. v. Mackenzie, 8 Bro. P. C. 42; Molony v. Kernan, 2 Dru. & War. 31; Davoue v. Fanning, 2 Johns. Ch. 252; McConnell v. Gibson, 12 Ill. 128; Pensonueau v. Bleakley, 14 id. 15; Dwight v. Blackmar, 2 Mich. 330; Clute v. Barron, id. 192; Allen v. Bryan, 7 Ired. Eq. 276; Moore v. Moore, 1 Seld. 256; Conger v. Ring, 11 Barb. 356; White v. Trotter, 14 Sm. & M. 30; Michoud v. Girod, 4 How. 503; Green v. Sargeant, 23 Vt. 466; Cumberland Coal and Iron Co. v. Sherman, 30 Barb. 553; Buell v. Buckingham, 16 Ia. 284; Stewart v. Lehigh Valley R. Co. 9 Vroom, 505. Unless the principal object, the transaction stands good; and a third party cannot open it. Jackson v. Van Dalfsen, v. Clark, 41 Md. 158. See generally, Carman v. Beach, 63 N. Y. 97; Shirland v. Monitor Iron Works Co. 41 Wis. 162; Lynch v. Fallon, 11 R. I. 311. - K.