Bank of Dania v. Farmers & Traders Bank

1. If a corporation receives funds from a bank with direc- . tion to place them on call loan for the bank, and the corporation undertakes to place the funds on call loan, a fiduciary relation of principal and agent arises between the parties.

2'. If an officer of such corporation, whose duty it is to place the loan, having knowledge of the source from which the fund came, the purpose, to which it is to be applied, and the fiduciary relation between the parties, is also an officer of a contemplating borrowing bank with authority from such bank to borrow money for it, and actually handles a…