United States Fidelity & Guaranty Co. v. Muir
Court of Appeals for the Second Circuit
In Error to the Circuit Court of the United States for the District of Vermont. This cause comes here upon writ of error by the defendant from a judgment of the circuit court, district of Vermont, entered upon the verdict of a jury, under instructions of the court, in favor of defendant in error, who was plaintiff below. The action was for debt, to recover the penalty of a bond executed by the defendant, guarantying the faithful performance by Chas.
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In Error to the Circuit Court of the United States for the District of Vermont. This cause comes here upon writ of error by the defendant from a judgment of the circuit court, district of Vermont, entered upon the verdict of a jury, under instructions of the court, in favor of defendant in error, who was plaintiff below. The action was for debt, to recover the penalty of a bond executed by the defendant, guarantying the faithful performance by Chas. W. Mussey of his official duties as cashier of the plaintiff bank. The breach of the bond consisted in the unlawful and fraudulent…
1Opinion of the Court
FACOMBE, Circuit Judge.
The bond is dated December 27, 1898. Prior thereto the American Surety Company had been the surety for the cashier. He applied to the board of directors to be allowed to substitute the defendant company, for the reason that it would cost him less. Consent was given by the board to his doing so if he could obtain a bond from the new company. No other action was taken by the board, Mussey being left to take whatever steps were necessary to procure it. There is no dispute that there were defalcations by the cashier, subsequent to the execution of the bond, in excess of its…
2Cases cited1 opinion
- American Surety Company v. PaulySupreme Court of the United States · 1898
3Cited by4 opinions
- Smith v. Federal Surety Co.South Dakota Supreme Court · 1932
- Post v. Maryland Casualty Co.Washington Supreme Court · 1939
- Hall v. Aetna Casualty & Surety Co.Court of Appeals for the Second Circuit · 1937
- Issaquah Coal Co. v. United States Fidelity & Guaranty Co.Court of Appeals for the Ninth Circuit · 1903