A Concise Treatise On the Law And Practice of Conveyancing : Together With the Solicitors' Remuneration Act, 1881, And General Order, 1882, And the Land Transfer Acts, 1875 And 1897, And the Rules And Orders Thereon

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(c) Re Kay, (1897) 2 Ch. 518 ; 66 L. J. 759, Ch. ; 46 W. E. 74.
(d) Speight v. Gaunt, 22 Ch. Div. 727 ; 9 App. Gas. 1 ; 53 L. J. 419, Gh. ; 32 W. E. 435 ; Whiteley v. Learoyd, 33 Gh. Div. 347 ; 12 App. Gas. 727.
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and if the broker misapplies the money entrusted to him for this purpose the trustee is not liable.(a) But the trustee must exercise proper care in the selection of a broker, and where he employed an " outside " broker, that is, one who is not a
...member of the Stock Exchange, who applied part of the fund to his own use, it was held that the trustee was liable to refund the amount for the above reason.(J) And in a previous case, where a trustee had placed trust funds in the hands of his solicitor for investment, which the solicitor misapplied, the trustee was held liable.(c) Also, where he employed the mortgagor's solicitor, and did not take other proper precautions. (c?) By the Trustee Act, 1893 (56 & 57 Vict. c. 53), s. 17, a trustee may appoint a solicitor to be his agent to receive and give a discharge for any money or valuable consideration receivable by the trustee under the trust by permitting the solicitor to have the custody of and to produce a deed containing such a receipt as is referred to in sect.

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