Legal Opinion
People's Bank v. Fidelity & Deposit Co.
District Court, M.D. North Carolina
Decided August 12, 1933No. 51PublishedCited by 3 opinions
1Opinion of the Court
HAYES, District Judge.
On September 23, 1927, the defendant executed a fidelity bond in the penal sum of $25,000, to indemnify the People’s Bank of Sanford, N. C., against loss caused by any act of fraud, embezzlement, wrongful abstraction, or misapplication of the bank’s assets by H. C. Newbold, its cashier, and the bond was continued in force until the discharge of the cashier on April 7, 1930.
On April 5, 1930, the cashier' met the officials of the bank to prepare a financial statement to the state banking authorities, and confessed to the officers that he had taken *380$44,480 of the…
2Cases cited15 opinions
- American Surety Company v. PaulySupreme Court of the United States · 1898
- United States v. RossSupreme Court of the United States · 1876
- Magee v. Manhattan Life InsuranceSupreme Court of the United States · 1876
- Moses v. United StatesSupreme Court of the United States · 1897
- Guarantee Co. of North America v. Phenix Ins.Court of Appeals for the Eighth Circuit · 1903
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3Cited by3 opinions
- Lake County v. Massachusetts Bonding & Insurance Co.Court of Appeals for the Fifth Circuit · 1935
- Fidelity & Deposit Co. of Maryland v. People's Bank of SanfordCourt of Appeals for the Fourth Circuit · 1934
- Alexander Grant's Sons v. Phoenix Assurance Co.Appellate Division of the Supreme Court of the State of New York · 1966