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Scottish Court of Session Decisions >>
Campbell v Creditors of the Equivalent. [1725] Mor 11608 (20 July 1725)
URL: http://www.bailii.org/scot/cases/ScotCS/1725/Mor2711608-272.html Cite as:
[1725] Mor 11608
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James Campbell of London, merchant, got a commission in name of the Creditors of the equivalent, signed by a great number of them, to manage their affairs at London, for which he was to have five per cent. of the equivalent debentures. Having managed their affairs successfully, he got payment from a great number, the rest he brought a process against upon this medium, That having got a commission from many of the creditors on the equivalent to act as agent for the creditors in general, and having prosecuted that agency, in a public open manner, before the Parliament, where every man is understood to be present, and given an account of his management from time to time to such of the creditors as pleased to think of that matter, either here, or at London, not only those who were present at meetings, but also those who did not assent, but acquiesced and reaped the benefit, must be understood to have acceded to the commission, and so are bound in the same manner as those who signed it, qui tacet consentiri videtur; the Lords found, That the Creditors on the equivalent, who did not expressly dissent when the pursuer did negotiate the affair of the equivalent before the Parliament were liable for the same quot of premium, as those who signed his commission.
