Gray v. American Surety Co.

This was an action by appellee against appellants to enforce contribution from appellants on account of two certain bonds, one executed by appellee in the penal sum of $12,000, and the other by appellants in the penal sum of $70,000, as sureties for The Beech Grove State Bank to the trustee of Perry Township, Marion County, Indiana, to secure certain funds deposited by said trustee in said bank.

Appellee’s complaint against appellants is upon the theory of a joint obligation wherein the appellee as surety for the bank had paid more than its equitable share of an obligation wherein the law…