Buryi Cooper — under a general power of attorney from his father, Carlos Cooper — assigned to the appellant bank a certificate of deposit (C/D) of his father’s to secure Buryi’s personal loan. The father, Carlos, died a month later, and the executor of his will, Brent Cooper, brought this action against the bank and Buryi to enjoin the application of the C/D to Buryi’s personal debt, and to release and return the C/D so that he may administer the estate of Carlos Cooper. The power of attorney gave Buryi the power to “buy, sell, mortgage, contract, hypothecate and in «my way and every way and manner deal in and with goods, wares and merchandise, choses in action and other property in possession or in action, and to do every kind of business of *216 what nature or kind soever.” The defendant bank appeals from the grant of the plaintiff-executor’s motion for summary judgment.
“The first duty of an agent is that of loyalty to his trust... He cannot have any interest or do any act adverse to the interest of his principal, or which is incompatible with the application of his skill and diligence to the promotion of that interest. He cannot place himself in a position in which his duty and interest conflict with that of his principal, or be permitted to make a secret profit out of his agency.”
Franco v. Stein Steel &c. Co.,
The portions of the power of attorney relied on by the appellant bank, quoted hereinabove, must be read in the context of the entire power of attorney, which is to be construed strictly and in light of the four corners of the document.
White v. Young,
The trial court did not err in granting summary judgment for the plaintiff-executor.
Judgment affirmed.