Lawyers Lloyds of Texas v. Carter

BAUGH, Justice.

Lawyers Lloyds of Texas brought this suit for itself and for the benefit of Underwriters at Lloyds, London, against H. A. and Jess D. Carter to recover $12,500 paid out by appellant under an indemnity bond executed by Insurance Managers, Inc., on behalf of the subscribers to the Texas Fire & Casualty Underwriters of Dallas, Texas, on which appellant was surety. Trial was to the court without a jury, and judgment rendered that plaintiff take nothing; hence this appeal.

The Texas Fire & Casualty Underwriters, hereafter referred to as the Underwriters, was a reciprocal insurance…