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109, S. 18, and therefore null and void. But that the

customer who had lost to the outside broker upon a

wagering contract of this nature was entitled to recover

whatever he had deposited with the latter as security;

seeing that 8 & 9 Vict. c. 109, s. 18, only applies to

money or valuable things deposited as the stake to abide

the event of the wager, and not to money or valuable

things deposited as security for the observance by the

loser of the terms of a wagering contract ; and, moreover,

even if securities came within the provision of the statute,

the authority to retain them might be revoked at any time

before the holder had appropriated them to the contract.

In re Gronmire, Exparte Waud (1898), 2 q. B. 383. C. A.,

& 14' T, L. R 377 ; in this case the Court of Appeal followed

70 The law of agency.

the decision of Strachan v. Universal Stock Exchange, uhi

su2)ra. In giving judgment, Smith, L.J., said ; " " Cover "

Is money deposited by a customer with a broker to secure

the latter against loss in the event of the stock falling.

As Lord Herschell said in Strachan v. Universal Stock

Exchange (1896), App. Cas. 166, the security deposited was

deposited as security against a debt which might arise

from a gambling transaction ; and it was not deposited to

abide the event of a wager."

Strachctn v. Universal Stock Exchange (1895), 12 T.

L. R. 38. C. A. ; this was another appeal arising out of the

same case. Here the plaintiff sought to recover the money

which he had deposited with the defendants. The Court

of Appeal held that the plaintiff could not recover the

money which he had deposited, seeing that the defendants

had appropriated the money towards plaintiff's losses,

before he had revoked the authority which he had given

them to do so.

We must now consider to what extent the Gaming

Act of 1845, and the cases decided under it, are affected

by the later Gaming Act of 1892 (55 Vict. c. 9), section 1

of which Act provides as follows : вЂ

" Any promise, express or implied, to pay any person

any sum of money paid by him under or in respect of any

contract or agreement rendered null and void by the Act

of the eighth and ninth Victoria, chapter one hundred and

nine, or to pay any sum of money by way of commission,

fee, reward, or otherwise in respect of any such contract,

or of any services in relation thereto or in connexion

therewith, shall be null and void, and no action shall

be brought or maintained to recover any such sum of

money."

It is clear that the effect of this section is to overrule

the case of Head v. Anderson mentioned at p. 67, ante ; and

to take away the right, which an agent previously had, to

RIGHTS OF AN AGENT AGAINST HIS PRINCIPAL. 71

be indemnified by his principal against any loss or damage

which he may have sustained in the course of any wager-

Ing transaction in which he has been engaged on his

principal's behalf.

Tatam v. Beeve (1893), 1 Q. B. 44; in this case the

defendant wrote a letter to the plaintiff asking him to

settle certain accounts for him amounting in all to ВЈ148 ;

the plaintiff did as he was requested to do, and brought

this action to recover the sums paid : the sums were, in

fact, due for bets which the defendant had made and

lost. The Divisional Court, apparently inferring from the

affidavits that the plaintiff knew how the accounts had

arisen, decided that the plaintiff could not recover the

sums paid, seeing that he paid the money in respect of a

contract null and void under 8 & 9 Vict. c. 109 ; wherefore

the Gaming Act of 1892 applied.

The Gaming Act of 1892, however, does not take away

an agent's right to an indemnity in respect of the so-called

" agreements to pay differences " on the Stock Exchange ;

for it has been clearly laid down that such agreements are

not wagering contracts within the provision of 8 & 9 Vict.

c. 109, s. 18.

Thacher v. Hardy (1878), 4 Q. B. D. 685, & 48 L. J. Q.

B. 289; here the plaintiff, a stockbroker, was employed

by the defendant to speculate for him on the Stock

Exchange ; the plaintiff knew that defendant did not

purpose to take up the stock bought for him, or to deliver

the stock sold for him, but expected the plaintiff to so

arrange matters that he (defendant) should only have to

pay " differences " : the plaintiff, moreover, knew that

unless he arranged matters as defendant expected, he

would be unable to meet the engagements which plain-

tiff entered into on his behalf. The plaintiff having

rendered himself personally liable upon the contracts

entered into on defendant's behalf, sued the defendant

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