Why was the firm held liable in the case of: Lloyd v Grace,Smith & Co [1912] AC 716?

Name: Why was the firm held liable in the case of: Lloyd v Grace,Smith & Co [1912] AC 716?
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In Lloyd v Grace, Smith & Co, the firm was held liable because the fraudulent acts committed by the agent (an employee of the firm) were within the scope of the agent's authority. The agent was acting in his capacity as an employee, conducting duties related to his employment, when he committed the fraud.

Why Was the Firm Held Liable in the Case Of