121. Agent's right to make a stakeholder application.

Where, by virtue of his agency, an agent is in possession of any money, goods or chattels1, to which conflicting claims are made by his principal and a third person, he may make a stakeholder application to the court2 notwithstanding his agency3, even though he has expressly attorned to his principal4. If, at the time of so attorning, the agent had notice of the claim of the third party, he may be estopped, as against his principal, from denying the latter's title, and so be unable to bring the stakeholder application