Fourth & First Bank & Trust Co. Ex Rel. Nashville Trust Co. v. Standard Accident Insurance

This was an action upon a bond of indemnity, insuring the Bank & Trust Company against loss by any act of fraud or dishonesty committed by its employees.

The Insurance Company refused to pay the amount of the loss and filed four pleas: (1) the contractual limitation, in that the loss was not discovered .until after one year had expired after the termination of the bond, as contracted; (2) nil debet; (3) non as-sumpsit; (4) that notice was not given within ten days after discovery of the loss as required by the bond — which pleas raise only two defenses: (1) that the loss was not discovered…