Supreme Court holds that agent's authority to collect debts owed to the principal was not irrevocable

The Supreme Court has allowed an appeal from the Court of Appeal, holding that on a correct interpretation of an agency agreement, the agent's authority to collect debts owed to the principal was not irrevocable, and did not survive the termination of the agency agreement by the principal. The judgment includes a summary of the circumstances in which the law will treat an agent's authority as irrevocable, and also an obiter discussion on the circumstances in which the receipt of monies by a payee might give rise to a constructive trust.(Bailey v Angove's Pty Ltd [2016] UKSC Civ 47)