World Secret Service Ass'n v. Travelers Indemnity Co.

This is a suit on a fidelity bond executed by Travelers guaranteeing the fidelity of the Association’s secretary-treasurer, Maxwell Earl Allen, who, it was alleged, had embezzled funds in excess of the face amount of the bond, $5,000.00.

The execution of the fidelity bond was admitted by Travelers, which denied that complainant had suffered any loss for which it was liable under the bond and denied any substantive liability and by way of further and special defense, defendant denied liability upon the grounds:(1) That the Association’s loss, if any, was discovered by it in November or December…