Oil Service Co. v. Detroit Fidelity & Surety Co.

Litz, Judge:

The defendant, Detroit Fidelity and Surety Company, complains of a judgment for $2,303.00 against it in favor of the plaintiff, Oil Service Company, in an action of assumpsit on a surety bond, dated November 1, 1924, wherein the defendant (designated as “surety”) agrees to reimburse the plaintiff (designated as “employer”) any pecuniary loss which it may sustain on account of any act of larceny or embezzlement committed by its employees.

The bond provides, as one of the conditions precedent to a, right of action thereon, “that no suit or action of any kind against the surety for…