Indemnity Insurance Co. of North America v. Farkas

This is an action on a fidelity bond executed by the defendant as principal and the plaintiff as surety, running to the City of New York and another, pursuant to section 902 of the New York City Charter (1938). Defendant was employed by the City of New York in the capacity of an accountant at La Guardia Airport. The provisions of the bond pertinent hereto required that he “ faithfully perform all the duties of said office as required by law and that he duly account for and pay over all money or property by him received or with him deposited in accordance with law.”

In December, 1943, while…