If a person is appointed by the court to be receiver and manager of a company, he is not the agent of the company. The company does not appoint him and cannot dismiss him, and he is not bound to obey its directions. Only the' court can dismiss him, or give him directions as to the mode of carrying on the business, or interfere with him if he is not carrying on the business properly. As it is impossible to suppose that the relation of agent and principal exists between him and the court, the inference is necessarily drawn that he acts in pursuance of his appointment on his own responsibility and not as an agent. He has in fact no principal, and if he gives an order to a third person he will render himself personally liable and must himself look for indemnity to the assets of the company, unless he shows that the order was accepted on the terms that he was not to be personally liable but that the third party was to be paid out of the assets of the business, if they should prove sufficient, or that there were other circumstances which took the case out of the general rule (h).

(e) As in s. 24 of the English Conveyancing Act, 1881. See Sec. 353, supra.

(f) Law v. Glenn, 1867, L.R. 2 Ch. 634, at p. 641; Jefferys v. Dickson, 1866, L.R. 1 Ch. 183, at p. 190; White v. Metcalfe, [1903] 2 Ch. 567, at p. 570.

(g) Quarrell v. Beckford, 1816, 1 Madd. 269; Leith v. Irvine, 1833, 1 My. & K. 277; Gaskell v. Gosling, [1896] 1 Q.B. 669. As to the liability of a mortgagee in possession, see chapter 28, Mortgagee in Possession.

On the other hand if a receiver is appointed under a power in a mortgage or under a statutory power (i) he is the agent of the person appointing him unless by the terms of the mortgage or the statute he is declared to be the agent of the mortgagor (j). His powers will be those conferred by the mortgage or the statute or by the instrument appointing him, and if he makes contracts within the powers conferred upon him, his principal and not he will be liable (k).

(h) Burt, Boulton & Hay ward v. Bull, [1895] 1 Q.B. 276, 18 R.C. 462; cf. Plumpton v. Burkinshaw, [1908] 2 K.B. 572. (i) See Sec. 353, supra. (j) See Sec. 354, supra, (k) Cf. Plumpton v. Burkinshaw, supra.