secrets,  he  will  be  deemed  to  hold  his  knowledge  in  trust  for
his  employer,  and  a  court  of  equity  will  enjoin  him  from
making  use  of  it  for  his  o>vn  purpases,

ri^t^xSSrtbe  ^^^    basis-right   of  a    trust    must    be    a    specific  right.      K

8i>eciiic  ^  agrees  to  sell  to  B  one  hundred  shares  of  the  stock  of
a  certain  bank  on  a  certain  future  day,  and  at  the  time
of  making  the  contract  he  happens  to  be  the  owner  of  that
precise  number  of  shares,  he  does  not  become  trustee  of
the  shares  for  B,  unless  he  has  agreed  to  sell  those  particular
shares  and  no  others.  If  he  can  perform  his  contract  by
buying  other  shares  and  delivering  them  to  B,  there  is
no  trust,  because  there  is  no  speciiSc  or  identifiable  basis-
right  to  wliich  B's  claim  can  attach.  So  a  banker  is  not
a  trustee  for  his  depositors,  but  a  mere  debtor  to  them;  because
he  is  not  bound  to  keep  each  depositor's  money  separate  and
pay  back  to  him  the  specific  money  which  he  deposited,  but
only  to  pay  on  demand  a  certain  amount  of  money.  But  the
Punds.  ownership  of  a  fund  may  be  held  in  trust.  Indeed  the  principal
use  of  a  fund  in  law  is  to  serve  as  the  basis-right  of  a
trust;  it  is  for  this  purpose  mainly  that  a  fund  is  reckoned
as  being  a  thing  capable  of  being  owned.  This,  however,  is
true  only  when  the  fund  is  intended  to  be  and  ought  to  be  kept
in  a  distinguishable  form,  embodied  in  specific  rights  or  things.
