William Howard Taft

“ It sufficiently appears that young Curtis, the treasurer of the company, and Curtis and Collins, the capitalists, understood the difference there was between the procedure and limitations attending the acquisition of title to lands under the Forest Reservation Act and under the Timber and Stone Act and that they depended wholly on Holbrook to secure a good title under the latter act.
The general rule is that a principal is charged with the knowledge of the agent acquired by the agent in the course of the principal's business. ”

“ The interest of Collins, Curtis and Holbrook in the acquisition of the titles was common. Curtis and Collins knew exactly how far Holbrook's interest was adverse to theirs, but trusted him in the joint enterprise notwithstanding. The adverse interests as between them in sharing the fruits of the common business cannot enable the company to retain its share and repudiate the agent with all he knew. ”

“ Appellants seek to avoid the application of this principle by asserting an exception to it when the agent's attitude is one adverse in interest to that of the principal, because of which it cannot be inferred that the agent would communicate the facts against his own interest to his principal. ”