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Kiene was an insurance agent of China Mutual Life Insurance Company. He was convicted
of the crime of estafa for his failure and refusal to turn over to the insurance company the amount
he has collected on account of the company. Kiene contended that he should not be charged of
estafa since there was no obligation on his part to deliver to the insurance company the amount

ISSUE: Is Kiene liable to deliver the amount collected to the insurance company?

HELD: Yes. According to Art. 1891, Every agent is bound to render an account of his transactions
and to deliver to the principal whatever he may have received by virtue of the agency, even though
it may not be owing to the principal. Every stipulation exempting the agent from the obligation to
render an account shall be void. Hence, Kiene is bound to deliver the sum of money.