INGRAM v. CALEDONIAN INSURANCE COMPANY.

(1932) 42 Ll L Rep 129

KING'S BENCH DIVISION.

Before Mr. Justice Rowlatt.

Insurance (fire) - Loss - Claim - Assurea also an agent of the defendant insurance company-Agent sent "receipts for the premiums due . . . The premiums collected by you should be remitted to this office . . . before Jan. 31, 1930 . . . You will at the same time be so good as to return . . . any receipts and policies the premiums on which are unpaid . . . All monies received by you on behalf of the company must be held as trust funds, and dealt with accordingly"-Assured's receipt signed by himself as agent- Failure to account-Agent notified three months later that policy had lapsed- No steps taken by agent-Whether agent still covered-Function of receipt- Effect of agent's signature