Deposit Bank of Midway's Assignee v. Hearne
Court of Appeals of Kentucky
Case 110 — ACTION OP COVENANT APPEAL FROM WOODFORD CIRCUIT COURT. 1. The clerk of the bank was not an officer of the institution, whose office was an annual one. Com. v. Wyman, 8 Met. (Mass.), 247. 2. Even though it be conceded that Stone was an officer, his surety was not released at the expiration of one year, if no successor was ever elected. Cassell v. Lex., H. & P. T. Co., 10, Ky.
Read the full summary
Case 110 — ACTION OP COVENANT APPEAL FROM WOODFORD CIRCUIT COURT. 1. The clerk of the bank was not an officer of the institution, whose office was an annual one. Com. v. Wyman, 8 Met. (Mass.), 247. 2. Even though it be conceded that Stone was an officer, his surety was not released at the expiration of one year, if no successor was ever elected. Cassell v. Lex., H. & P. T. Co., 10, Ky. Law Rep., 486; Brandt on Suretyship and Guaranty, sec. 146; Chairman of School v. Daniel, 6 Jones Law (N. C.), 444; Tuompson, Admr. v. The State, 37 Miss., 522; People, ox rel, Jones v. Beach, 77 111., 52;…
1Opinion of the Court
JUDGE HAZELRIGG
delivered the opinion oe the court.
One C. W. Stone was elected clerk of the Deposit Bank of Midway some time in the year 1872, and executed bond, for the faithful performance of his duties, with one Wiggins as his surety. The surety died, and in 1883 Stone-executed another bond of like character, with the appellee, Hearne, as his surety. No other election or appointment of Stone seems ever to have been made or other bond executed. In 1891 he fled the country, it having been discovered that he and the cashier of the bank had used its money, and for years had been fraudulently…
2Cases cited2 opinions
- Graves v. Lebanon National BankCourt of Appeals of Kentucky · 1873
- Davis v. BrownCourt of Appeals of Kentucky · 1895
3Cited by4 opinions
- Green v. . PetersenNew York Court of Appeals · 1916
- United States Fidelity & Guaranty Co. v. Blackly, Hurst & Co.Court of Appeals of Kentucky · 1903
- Farley v. PetersenNew York Supreme Court · 1915
- National Surety Co. v. Globe Grain & Milling Co.Court of Appeals for the Ninth Circuit · 1919