Planters Lumber, Co. v. Trinity Universal Ins.

Appellant, Planters Lumber Company, brought this action against appellee, Trinity Universal Insurance Company, to recover the sum of $2,415.21 on a fidelity bond executed by Elizabeth Toung, Secretary-Treasurer of the Lumber Co. as principal, and the Insurance Co. as surety. The basis for recovery is that Miss Toung embezzled the amount sued for while occupying that position with appellant, the liability for which was covered by the fidelity bond. The evidence showed without dispute that she was guilty of the embezzlement. The trial resulted in a verdict for the Insurance Co. and judgment…