Ruegg v. Fairfield Securities Corp.

This suit was brought because of defendant’s default in carrying out this promise:

“ March 4th, 1949

Mr. Erhart Ruegg

24 West 40th Street

New York City, New York

Dear Sir:

At the request of Mr. William S. Arnold, we hereby agree to pay to you, for the account of Mr. Arnold, the sum of Twelve Thousand ($12,000.00) Dollars within thirty (30) days after certain Bonds No. 16-2548/9-47 *316issued by the United States Fidelity and Guaranty Company for William S. Arnold and John Stum, have been cancelled and all the collateral now pledged to secure said bonds has been released by the United States Fidelity…