New York Casualty Co. v. Ford

LEE, Circuit Judge.

Appellees, a co-partnership doing business as Ford-Montgomery Company, purchased a fidelity bond issued by the appellant indemnifying appellees and eleven other concerns against loss in an amount not to exceed $2,500- due to larceny, theft, embezzlement, etc., by one or more employees. The bond was dated June 10, 1942, and the premiums were payable annually. The premiums, which were calculated on information furnished by appellees as to the number of its employees and their classification as to position, were $330.78 for the first year and $296.38 for the second year.

Between…