(2) And in the same transaction; when in a prior transaction. (3) Information must be material; presumption that it was com municated to the principal.
Exceptions: Agent's own fraud.
True rationale of this rule.
SECTION VI.
CONCERNING PRIORITIES.
§ 677. Questions stated.
$$ 678-692. First. The fundamental principles.
§§ 679-681. I. Estates and interests to which the doctrine applies.
§ CS2. II. Equitable doctrine of priority, in general.