Teutonia National Bank v. Wagner
Supreme Court of Louisiana
APPEAL from the Fifth District Court, parish of Orleans. Rogers, J. Where a bond is given by a cashier of a bank, with sureties who are each bound for a separate amount, and the bond contains a promise on the part of the principal and sureties to pay said amounts to the President and Directors of the bank, and also recites that if the principal faithfully perform his duties as cashier, the bond is to be void, but otherwise of full force and efíect, such bond is, in legal…
Read the full summary
APPEAL from the Fifth District Court, parish of Orleans. Rogers, J. Where a bond is given by a cashier of a bank, with sureties who are each bound for a separate amount, and the bond contains a promise on the part of the principal and sureties to pay said amounts to the President and Directors of the bank, and also recites that if the principal faithfully perform his duties as cashier, the bond is to be void, but otherwise of full force and efíect, such bond is, in legal intendment, in favor of the bank, and the bank can maintain an action upon it. Such a bond is an obligation to pay money,…
1Opinion of the Court
The opinion of the Court was delivered by
Bermudez, C. J.
This is a suit to enforce the liability of J. M. Wagner as cashier, and of the other defendants as sureties on his bond, given in that capacity.
*733The claim was originally for $7123 47, but, upon the discovery of certain credits, it was reduced to $5878 62, amount of alleged defalcations. The main defendant, Wagner, was not found and made no appearance.
The sureties, at first, pleaded by exceptions, that the petition disclosed no cause of action and that the bond was not furnished in favor of the plaintiff. Those preliminary defenses having…
2Cases cited1 opinion
- Steam-Engine Co. v. HubbardSupreme Court of the United States · 1879
3Cited by12 opinions
- Hidalgo v. DupuyLouisiana Court of Appeal · 1960
- Atkins v. Dixie Fair Co.Supreme Court of Louisiana · 1914
- Ruiz v. American Trading Co.Supreme Court of Louisiana · 1928
- Commercial Nat. Bank v. RoweLouisiana Court of Appeal · 1996
- Hauenstein v. GillespieMississippi Supreme Court · 1896
7 more not listed; retrieve them via the Exa API.