(a.) who, having been intrusted as such with any money or security for the payment of money, with any direction in 1 writing to apply, pay, or deliver such money or security or any part thereof respectively, or the proceeds, or any part of the proceeds of such security, for any purpose or to any person specified in such direction, misappropriates the same in violation of good faith and contrary to the terms of such direction; or

(b.) 2 who, being intrusted as such with any chattel or valuable security, or any power of attorney for the sale or transfer of any stock, for safe custody or for any special purpose, and without any authority to sell, negotiate, transfer, or pledge the same, sells, negotiates, transfers, pledges, or misappropriates the same, or the proceeds of the same, or any part thereof, or the share or interest to which such power of attorney relates or any part thereof, in violation of good faith and contrary to the object or purpose for which it was intrusted to him; or

4

(c.) who, being intrusted as such with the property of any other person for safe custody, with intent to defraud, sells, negotiates, transfers, pledges or misappropriates the same or any part thereof.

5 Clause (b.) does not extend

to an agent who disposes of a chattel, valuable security, or power of attorney according to unwritten instructions given to him, and subsequently misappropriates the proceeds thereof. unless (possibly) he is proved to have had an intention to misappropriate the proceeds at the time when he disposed of the chattel, valuable security, or power of attorney; nor

6 to a solicitor who being intrusted with money to lay out

1 As to what amounts to a direction in writing, see R. v. Christian, 1873, 2 C. C. R. 94.

224 & 25 Vict. c. 96, s. 75.

3 Stock means 66 any share or interest in any public stock or fund, whether of the United Kingdom, or any part thereof, or of any foreign state, or in any stock or fund of any body corporate, company, or society." 4 24 & 25 Vict. c. 96, s. 76.

5 This seems to be the effect of R. v. Tatlock, 1876, 2 Q. B. D. 157, and R. v. Cooper, 1874, 2 C. C. R. 123. In R. v. Tatlock the judges were not altogether unanimous.

6 R. v. Newman, 1882, 8 Q. B. D. 706; R.v. Fullagar, 1879; 14 Cox,370.

on mortgage for his client misappropriates it, unless it appears specifically that he was to keep it with him for safe custody until it could be so invested.

1 Clause (b.) extends to every one who, being authorised to receive money to arise from the sale of any annuities or securities purchased or transferred under the provisions of Part V. of the Municipal Corporation Act 1882 or under any Act repealed by that Act, or any dividends thereon, or any other such money, appropriates the same otherwise than as directed by that Act or by the Treasury in pursuance thereof.

ARTICLE 375.

MISAPPROPRIATION UNDER POWER OF ATTORNEY.

2 Every one commits a misdemeanor who, being intrusted with any power of attorney for the sale or transfer of any property, fraudulently sells or transfers, or misappropriates the same, or any part thereof.

ARTICLE 376.

MISAPPROPRIATION BY FACTORS OR AGENTS.

3 Every factor or agent intrusted, for the purpose of sale or otherwise, with the possession of any goods, or of any docu

4

1 45 & 46 Vict. c. 50, s. 117; authorising the application of securities contrary to sect. 124 of the same Act is a misdemeanor punishable as the Court awards. Ibid. s. 124.

2 24 & 25 Vict. c. 96, s. 77.

3 Ibid. s. 78.

4 Any factor or agent intrusted as mentioned above, "and possessed of any such document of title, whether derived immediately from the owner of such goods, or obtained by reason of such factor or agent having been intrusted with the possession of the goods, or of any other document of title thereto, shall be deemed to have been intrusted with the possession of the goods represented by such document of title;

a factor or agent is deemed to be in possession of goods whether the same are in his actual custody or held by any other person subject to his control, or for him or on his behalf;

a factor or agent in possession of such goods or documents is taken to have been intrusted therewith by the owner thereof unless the contrary is shown. Ibid. s. 79.

ment of title to goods, commits a misdemeanor who, contrary to or without the authority of his principal and for the use or benefit of himself or any person other than the person by whom the goods were intrusted to him, and in violation of good faith,

(a.) 1 makes any consignment, deposit, transfer, or delivery of any goods or document of title so intrusted to him as and by way of a pledge, lien, or security for any money or valuable security thereon borrowed or received, or intended to be thereafter borrowed and received by him; or

(b.) 2 accepts any advance of any money or valuable security on the faith of any 3 contract or agreement to consign, deposit, transfer or deliver any such goods or document of title.

3 Provided, in each case, that the amount for which such goods or documents are made security in any of the ways aforesaid exceeds the amount justly due to such agent from his principal at the time when the security is given, together with the amount of any bill of exchange drawn by or on account of such principal and accepted by such factor or agent.

4

ARTICLE 377.

CLERKS, ETC., ASSISTING IN PROCURING ADVANCES.

Every clerk, or other person, who knowingly and wilfully 1 46 Every contract, pledging, or giving a lien upon such document of title as aforesaid is deemed to be a pledge of and lien upon the goods to which the same relates." 24 & 25 Vict. c. 96, s. 79.

2 Where any loan or advance is bonâ fide made to any such factor or agent on the faith of any contract or agreement in writing to consign, deposit, transfer, or deliver such goods or documents of title, and such goods or documents of title are actually received by the person making the loan or advance without notice of the factor's or agent's want of authority, the loan or advance is deemed to be made on the security of the goods, though the goods or documents of title are not actually received by the person making the advance till "the period subsequent thereto," Ibid. s. 79. The necessity for this explanation, which is taken from part of s. 79, is not very obvious, nor do I understand what particular period is referred to by the concluding words.

3 Any contract or agreement, whether made direct with such factor or agent, or with any clerk or other person on his behalf, is deemed to be a contract or agreement with such factor or agent, Ibid., s. 79. Of course it is.

4 Ibid., s. 78.

acts and assists in making any security, or accepting or procuring any advance mentioned in Article 376, commits a misdemeanor.

ARTICLE 378.

FRAUDULENT TRUSTEES.

2 Every 3 trustee of any property for the use or benefit, either wholly or partially, of some other person, or for any public or charitable purpose, who with intent to defraud misappropriates the same, or otherwise disposes of or destroys such property or any part thereof, commits a misdemeanor.

A public purpose is such a purpose as would be recognized as public in a court of law, and not a purpose the execution of which is a matter of public importance.

Illustrations.

4 The trustees of a savings bank, which has printed rules, one of which directs the manner in which the funds are to be invested, are trustees on an express trust created by an instrument in writing, but not for a public purpose.

5 The purposes of an institution exempted from liability to the poor-rate would be public.

ARTICLE 379.

FRAUDS BY DIRECTORS AND PUBLIC OFFICERS.6

Every director or public officer of any body corporate or public company commits a misdemeanor who

1 "Any such consignment, deposit, transfer, or delivery." 2 24 & 25 Vict c. 96, s. 80.

3 Trustee" means a "trustee on some express trust created by some deed, will, or instrument in writing, and shall include the heir or personal representative of any such trustee and any other person upon or to whom the duty of such trust shall have devolved or come, and also an executor and administrator, and an official manager, assignee, liquidator, or other like officer acting under any present (6 Aug. 1861) or future Act relating to joint stock companies, bankruptcy, or insolvency": Ibid. s. 1. 4 R. v. Fletcher, 1862, L. & C. 180.

5 Ibid. L. & C. at p. 203.

6 The following frauds similar to, but more special than, those mentioned in the text are punished as follows:-A director, officer, or

(a.) 1 fraudulently takes, or applies for his own use or benefit, or for any use or purposes other than the use or purposes of such body corporate or public company, any of the property of such body corporate or public company; or

(b.) as such receives or possesses himself of any of the property of such body corporate or public company, otherwise than in payment of a just debt and demand, and, with intent to defraud, omits to make, or to cause and direct to be made, a full and true entry thereof in the books and accounts of such body corporate or public company; or

(c.) 3 with intent to defraud, destroys, alters, mutilates or falsifies any book, paper, writing, or valuable security belonging to the body corporate or public company: or

makes or concurs in the making of any false entry; or omits or concurs in omitting any material particular in any book of account or other document; or

(d.) makes, circulates or publishes, or concurs in making, circulating or publishing, any written statement or account which he knows to be false in any material particular with intent to deceive or defraud any member, shareholder, creditor of such body corporate or public company;

or

or with intent to induce any person to become a share

contributory of a company wound up under the Companies Act, 1862, destroying, &c., or falsifying books, &c., or securities, or making false entries in a register of the company with intent to defraud any person, misdemeanor, two years hard labour, 25 & 26 Vict. c. 89, s. 166 ;an actuary, &c., or other person holding any situation in a savings bank receiving money from a depositor, &c., and not duly accounting for it, misdemeanor, 26 & 27 Vict. c. 87, s. 9;--a railway company delivering a mortgage deed, bond, or certificate without a declaration as required by the Act thereon, and any officer of the company permitting the delivery thereof without the declaration, misdemeanor, fine and imprisonment, 29 & 30 Vict. c. 108, s. 15;-any director or registered officer of a company signing a declaration, account or statement under the Act which he knows to be false, misdemeanor, fine and imprisonment, 29 & 30 Vict. c. 108, s. 16; any person making a false entry in a contract for a sale of shares of a joint stock banking company, misdemeanor, 31 & 32 Vict. c. 119, s. 5; any person signing any statement, &c., or report required by the Regulation of Railways Act 1868, which is false to his knowledge, misdemeanor, fine and imprisonment, 31 & 32 Vict. c. 119, s. 5; the like as to any return required by the Regulation of Railways Act 1871, 34 & 35 Vict. c. 78, s. 10.

1 24 & 25 Vict. c. 96, s. 81.

3 Ibid. s. 83.

2 Ibid. s. 82.

4 Ibid. s. 84.