(a) A, a merchant in Calcutta, has an agent, B, in London, to whom a sum of money is paid on A' s account, with orders to remit. B retains the money for a considerable time. A, in consequence of not receiving the money, becomes insolvent. B is liable for the money and interest from the day on which it ought to have been paid, according to the usual rate, and for any further direct loss- as e. g., by variation of rate of exchange- but not further.