Belgium State Bank v. Maryland Casualty Co.

The questions raised by the assignments of error in this case relate entirely to the interpretation and application of clause 4 to the facts in this case, the facts being practically undisputed. The agreement of the defendant company is to “reimburse the employer for any loss, not exceeding twenty thousand dollars, . . . which the employer, shall have sustained by reason of any act or acts of fraud, dishonesty, forgery, embezzlement, wrongful abstraction, or wilful misapplication. . . .” The language of the fourth condition is that the employer and the company shall share any recovery in…