Whilst there is no general duty to obtain the purchase money1, an auctioneer2 must account for any money received by him on the seller's behalf, and be ready to pay it over to him3. If the auctioneer fails to keep proper accounts or fails to pay or transfer money or property to his principal he will be liable to a claim for an account4. The auctioneer is in a fiduciary position in respect of such money5, and an order to pay can be made against him as trustee, which, if disobeyed, renders him liable to committal for contempt
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