17 Barb. 132 | N.Y. Sup. Ct. | 1853
. The question is presented in this action whether a person can act as the agent of both parties in the making of a contract, when he is invested with a discretion by each, and when each is entitled to the benefit of his skill and judgment. Other interesting questions arise in the case, but as this is the one of the most general and practical importance, and if decided adversely to the plaintiffs is decisive of the case, it will be first considered. The general principle that a party cannot act for himself in the same transaction in which ■ he undertakes to act for another is well settled, and the validity of a contract in which he acts and to which he is a party as agent for a third person, and also in his otro behalf, does not _ depend upon the question whether he makes an advantage by the transaction; but the policy of the law, without inquiring whether it is beneficial to the principal, or into the actual good faith of the agent, declares the act void. It is of course optional with the principal, with knowledge of the facts, to ratify the acts of the agent and affirm the contract. The character of agent for one party to a contract and that of a principal, upon the
Gridley, W. P. Allen, Hubbard, and Pratt, Justices.]
The judgment must be reversed, and a new trial granted; costs to abide the event.