Legal Opinion
The Travelers Indemnity Company, a Corporation v. The Riggs National Bank of Washington, D. C.
Court of Appeals for the D.C. Circuit
Decided October 3, 1963No. 17573PublishedCited by 6 opinions
1Per curiam
Walker & Dunlop, Inc. sustained losses as a result of an employee’s defalcations involving forgeries of checks. Appellant surety paid the amount of the losses to
Walker & Dunlop, Inc. sustained losses cover that sum, as assignee or subrogee, from appellee bank. The District Court granted appellee’s motion to dismiss for failure to state a claim.
Some important commercial jurisdictions hold that where the surety pays the loss, it has a valid claim against the bank. 1 We have said that such a suit would not lie, Washington Mechanics’ Savings Bank v. District Title Insurance Co., 62 App.D.C. 194,…
2Cases cited6 opinions
- Standard Accident Insurance v. PellecchiaSupreme Court of New Jersey · 1954
- Washington Mechanics' Sav. Bank v. District Title Ins.Court of Appeals for the D.C. Circuit · 1933
- Grubnau v. Centennial National BankSupreme Court of Pennsylvania · 1924
- National Surety Co. v. National City Bank of BrooklynAppellate Division of the Supreme Court of the State of New York · 1918
- Anacostia Bank v. United States Fidelity & Guaranty Co.Court of Appeals for the D.C. Circuit · 1941
1 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Eddie M. Harrison v. United States of America, Orson G. White v. United StatesCourt of Appeals for the D.C. Circuit · 1967
- National Union Fire Insurance Company of Pittsburgh, Pa. v. The Riggs National Bank of Washington, D.C.Court of Appeals for the D.C. Circuit · 1993
- Harold Kaufman v. United StatesCourt of Appeals for the Eighth Circuit · 1965
- Schrier v. Home Indemnity CompanyDistrict of Columbia Court of Appeals · 1971
- Leroy A. Frazier v. United StatesCourt of Appeals for the D.C. Circuit · 1965
1 more not listed; retrieve them via the Exa API.