Hartford Accident & Indemnity Co. v. Colorado National Bank

Plaintiff in error was plaintiff in the trial court; in this opinion we will refer to it as the Indemnity Company, and to defendant in error as the bank.

The Indemnity Company had executed a surety insurance contract as surety for the Prey Brothers Livestock Company, herein called the Commission Company, insuring to all shippers the payment of such proceeds as would be due them from the sale of livestock consigned to the Commission Company. In July, 1931, various shippers were not paid for such shipments by the Commission Company, and the amounts due them were in turn paid by the Indemnity…