Miller v. Smoot

GARDNER, Justice.

Complainant’s bill is for an accounting by the defendant as her trusted agent.

Defendant’s letter to complainant, which is set out in the bill, acknowledges receipt of described securities (preferred stock), which he is to handle for complainant, sell and hypothecate, and reinvest as he sees fit, but with a condition that if loss follows, he will pay complainant the amount “realized therefrom, together with interest at the rate of eight per centum (8%) per an-num from the date of sale.” This agreement bears date of October 26, 1937, and it appears that on October 25th,…