Commercial Insurance Co. of Newark v. Watson

MURRAH, Circuit Judge.

The appellant, Commercial Insurance Company, issued its statutory motor vehicle dealer’s bond in the penal sum of $5,000 to one Donald E. Powell to comply with the New Mexico statute, for a license to engage in the automobile business in Santa Fe, New Mexico. The bond was conditioned that Powell “ * * * shall conduct his business as a dealer * * * of vehicles without fraud or fraudulent representation, and that said applicant shall pay losses, damages and expenses that may be sustained by the purchaser by reason of the failure of title to a motor vehicle * * * sold by…