Lorretto School Ltd v Macandrew and Jenkins, 1992 SLT 615
Citation: Lorretto School Ltd v Macandrew and Jenkins, 1992 SLT 615
Rule of thumb: If someone is managing another person’s money/fund, what responsibilities are on them? They must have a receipt & record for exactly how every penny from the fund was spent.
Judgment:
Agents must provide their principal with an account of all the expenses they have incurred, ‘in their capacity of ... agents ... they had an obligation to account to her for her intromissions’, Lord Kirkwood
Warning: This is not professional legal advice. This is not professional legal education advice. Please obtain professional guidance before embarking on any legal course of action. This is just an interpretation of a Judgment by persons of legal insight & varying levels of legal specialism, experience & expertise. Please read the Judgment yourself and form your own interpretation of it with professional assistance.